How to Check all My Loan Details Online in India (2024)

Loans are a common occurrence in India, and it’s not uncommon to have multiple loans at the same time. Keeping track of all your loans can be a daunting task, but thankfully, there are ways to check all your loan details in one place. In this post, we’ll go over the steps you can take to check your loan details and make sure you’re up-to-date on your payments.

personal loan

Before we dive into the steps, let’s go over some basic information.

First, it’s important to know that there are various types of loans available in India, including personal loans, home loans, car loans, and education loans, to name a few. Each loan type has its own set of terms and conditions, so it’s essential to understand the details of each loan you have taken out.

Second, there are several loan providers in India, and each one has its own system for managing loans. The steps we’ll be going over are general guidelines that should work for most loan providers, but it’s always a good idea to check with your provider if you have any specific questions.

What is Personal Loan Statement?

A personal loan statement is a document provided by the lender that has all the key details of a personal loan a borrower has taken. This statement generally includes:

1. Loan Amount

2. Loan Disbursement Date

3. Interest Rate

4. Tenure of the Loan

5. Repayment Schedule

6. Total Amount Paid: The sum of the principal and interest paid by the borrower to date.

7. Outstanding Loan Balance: The remaining amount of the loan that the borrower still owes to the lender.

8. Late Payment Fees: Any charges incurred due to delayed payments, if applicable.

Calculate Your Personal Loan EMI 

Information Required To Check Your Loan Statement

To access your loan statement, whether online or in person, lenders will need to verify your identity using specific personal information. The required details are:

1. Your full name

2. Your registered mobile phone number

3. Your loan account number

4. Your Permanent Account Number (PAN)

Steps to Check all My Loans Detail Online:

Through the Credit Bureau’s Website:

1. Visit the Credit Bureau’s Website:

  • In India, there are four main credit bureaus: CIBIL, Equifax, Experian, and CRIF High Mark. Each of these bureaus maintains records of individual’s credit histories, including details of all loans taken.
  • Navigate to the official website of any of these credit bureaus to begin the process of accessing your credit information.

2. Log in with Your PAN Card and Other Details:

  • Once you’re on the credit bureau’s website, you will need to log in to access your credit report. The login process typically requires your PAN card number, which is linked to your financial transactions and credit history.
  • You may also need to provide additional details for verification purposes, which could include your name as per PAN, date of birth, and email address.

3. Enter OTP to Confirm Your Registered Mobile Number:

  • For security reasons, the credit bureau will send a One-Time Password (OTP) to the mobile number that is registered with your PAN.
  • Enter this OTP on the website to confirm your identity. This step ensures that it is indeed you who is requesting access to your personal credit information.

4. Download Your Credit Report and Check Your Active Loans:

  • After your identity has been verified through the OTP, you will be given access to download your credit report.
  • This report contains comprehensive details of your credit history, including all the loans you have taken out. You can review this report to see all the active loans under your name. The report will typically show the lender’s name, the type of loan (such as personal, home, car, etc.), the loan amount, the date of borrowing, the current balance, and the payment history.

Also, Read: How To Check Active Loan On PAN Card?

Steps To Check all Your Loan Details Directly With Your Lender

1. Use Online Banking or the App

Log in quickly and easily to check your loans with your login details.

2. Visit the Lender’s Site

Go to the lender’s website. You might need to sign up with your PAN and other info to see your loans.

3. Talk to the Lender

Just call or email them, give your PAN, name, or loan number to ask about your loans, especially if you can’t get online.

4. Look at Loan Statements

Check your latest loan statements from your lender. They’ll have what you owe when to pay next, and your interest rate.

Steps To Check All Loan Details Through Internet Banking

Follow these steps to view your loan details using this method:

Step 1: Enter your account number and password to log in to your bank’s website.

Step 2: Navigate to the loan section.

Step 3: Choose the specific loan account.

Step 4: Your loan details will be displayed on the screen.

Step 5: Select the option to download the statement as an e-statement.

Different Methods of Tracking Your Personal Loan Status

Here are 2 methods for tracking the status of your personal loan:

1. Mobile Phone Inquiry:  During the application process, the financial institution may have requested your mobile phone number. Notably, some lenders use this channel to provide updates on the loan application status. You can inquire about the progress online through a dedicated mobile app or by contacting customer service, where the representative can utilize your mobile number for efficient retrieval of your application details. Now you might be questioning:

How to Check Your Personal Loan Status Through Customer Service?

The lender that you have chosen can help you track the status of your personal loan through their customer service. Simply dial in, or you can mail your lender’s customer service department to track the status. When you email them, ensure that you attach the reference number with your registered mobile number. The customer service providers will contact you within 24 hours once you have raised your query. 

2. Reference Number Tracking Upon loan application submission, the lender will typically assign a unique reference number. This number, often provided through SMS to your mobile phone, serves as an identifier throughout the loan application process. You can utilize this reference number to track the progress of your application online, over the phone, or while corresponding with the lender.

How Can I Check My Personal Loan Status Offline?

We’ll be honest: checking your personal loan status offline is not the best way. But of course, you can still try this method out if you prefer everything in-person. The process is quite simple, literally. Go to the branch office of the bank and ask them about the status of your application. Do not forget to have your reference number (you must have received this number during the time of your application ) with you when you visit them. Once you have provided them with all the deets that they need, their representative will be able to tell the status of your loan application!

If you’re on the hunt for a new loan, consider exploring what Credmudra has to offer. We specialize in pairing you with the ideal lender to meet your needs, and we’re committed to facilitating a smooth and hassle-free disbursement process.

To wrap up, checking your loan details is an essential part of managing your finances. By following the steps outlined in this post, you can easily access all your loan information and ensure that you’re on track with your payments. Remember to regularly check your loan details to stay up-to-date on any changes or updates.

Your thoughts matter to us! Please don’t hesitate to post your views and analyses in the comment section below 🙂

Also, Read: How to Change Mobile Number in PAN Card

FAQs:

1. What Steps should I Take to Delete An Incorrect Loan from My Record?

To tackle a loan you didn’t take out, file an online dispute with CIBIL stating, “This loan account isn’t mine.” Also, send a complaint letter to CIBIL asking to delete the loan, including your KYC documents for proof. CIBIL will then send your complaint to the lender for checking.

2. What does My Loan ID Number Refer To?

A Loan Account Number (LAN) is a unique 14 or 15-digit code given to a borrower’s loan account by the lender upon loan disbursement.

3. What Steps Should I Take to Fix Mistakes in My Credit Report Linked to My PAN for Loan Accounts?

In case of errors or mismatches in your credit report, you should file a dispute with the credit bureau. They will look into the issue and rectify any verified inaccuracies.

4. What Method can I use to Find out my Remaining Loan Amount?

To know the balance you owe on your loan, sign in to your online banking or use the lender’s app. There, you can download your loan account statement. If internet access is a problem, a phone call to customer service can also provide you with the statement you need.

5. What’s the Way to Determine if My Loans have been Written Off?

Should the bank decide to write off your loan, it will close the account, meaning you’re no longer required to make payments. You can confirm if your loan has been written off by downloading the latest statement of your loan account.

6. How Often Should I Check my Loan Details?

It’s a good idea to check your loan details at least once a month to make sure that you’re up-to-date on your payments and that there are no errors in your loan details.

7. What Happens if I Miss A Loan Payment?

If you miss a loan payment, you may be charged a late fee or penalty. Missing multiple payments can result in defaulting on your loan, which can have serious consequences, such as damage to your credit score.

Also, Read: How to Change Mobile Number in PAN Card

Personal Loans With a Co Applicant – Eligibility & Benefits

Hey there! Today, let’s chat about something that might sound a bit daunting but is actually pretty nifty once you get the hang of it – personal loans with a co-applicant. Imagine you’re planning a road trip. You could go solo, but having a buddy along for the ride can make things smoother and more fun, right? That’s kinda like having a co-applicant for a loan.
So, let’s understand personal loans with co-applicants by first understanding personal loans.

What Are Personal Loans?

A personal loan is money you can borrow for just about anything you need. You might take one out to pay off other debts, fix up your house, or even fund a big wedding. Places like banks, credit unions, or online companies can give you these loans. You’ll need to pay back the money you borrow, usually with an extra cost called interest, over a set period.

Who Is a Co-Applicant in Personal Loan?

A co-applicant is like your road trip buddy. They sign up for the loan with you and agree to share the responsibility of paying it back. It’s like getting a two-for-one deal on credibility for your loan application. In simpler words, Should your initial loan application be denied, you have the option to reapply for a personal loan with another individual, referred to as a co-applicant. This joint application, also known as a Joint Personal Loan, can increase your chances of obtaining loan approval, particularly if your co-applicant has a strong financial background and credit rating.

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Who Is a Guarantor?

A guarantor is someone who guarantees the loan will be paid back. Think of them as a backup singer, ready to step in if you hit a wrong note with your payments. Banks often ask for a guarantor before they say yes to giving out a personal loan. But remember, not all personal loans need a guarantor. When banks do ask for one, they usually want someone who earns a decent income, say above Rs. 24,000. A guarantor needs to know that if the loan isn’t paid back, they’ll have to step in and cover it. Their signature is part of the loan agreement, making this official.

Also, Read: Personal Loan for 8000 Salary : Step By Step Guide

Who Is a Co Signer?

A cosigner is similar to a guarantor but usually steps into the picture from the getgo. They cosign your loan, saying, “Hey, if they can’t pay, I will.” Basically, a cosigner is someone like a parent, relative, or buddy who helps you get a loan. They share their financial details, like how much they earn and their credit history. They promise to pay the loan for you if you can’t do it.

Difference Between Co Applicants, Co Signers, and Guarantors

BasisCosignerGuarantorCo-applicant
Payment ResponsibilityMust pay if the borrower can’t.Must pay if the borrower can’t, often using their property as security.Must pay if the borrower can’t.
OwnershipDoesn’t usually own what the loan buys.Doesn’t own what the loan buys.Doesn’t own what the loan buys.
Interest RatesHelps get the loan approved or get better terms.A guarantor is someone who promises to pay back a loan if the person who got the loan can’t pay it. They use their own property as a safety net for the loan.Works with the borrower on getting the loan approved.

When Might You Need Someone Else to Help with Your Personal Loan?

When you want a personal loan without offering any property or assets as a backup, you’ve got to meet the lender’s requirements. But if you don’t, the lender might ask for help from a guarantor. Here’s what the lender looks for:

1. Credit Score: This is a number up to 900 that shows how likely you are to pay back the loan. Closer to 900 is better. In India, you usually need at least 750 to get a loan on your own. If you’re below 650, you might need extra help from a co-applicant or guarantor.

2. Monthly Income: The lender looks at what you earn each month to make sure you can pay back the loan. You’ll need to earn enough not just for your regular expenses but also to pay back the loan. The lowest monthly income you need is usually Rs 22,000, but it could be more depending on where you live. If you don’t make enough, the lender will ask for a co-applicant or guarantor.

3. Credit Utilisation Ratio (CUR): This ratio compares the credit you’re using to the total credit you have. For example, if your credit card has a limit of Rs 60,000 and you usually spend Rs 30,000 of it, your Credit Utilisation Ratio (CUR) would be 1:2. This means you are using half of the credit available to you. Lenders prefer it when this number is lower because it suggests you manage your finances well and don’t rely too much on credit. If your CUR is high, meaning you’re using a lot of the credit available to you, the lender might ask for a co-applicant or guarantor when you apply for a loan.

What Happens if You Can’t Pay Your Loan Installments and You have a Co-Applicant?

Everybody likes a little backup when applying for a quick personal loan, right? It’s like having your spouse or family member giving you a hand. This extra support can make it much easier to get a big loan approved.

What a Co-Applicant Does:

A co-applicant is someone who joins you in applying for a loan from a bank or lender. They promise to help pay back the loan if you can’t. This can be someone who owns something with you, like your spouse or even your parents. It’s a good idea when you need a quick loan for big purchases or home improvements.

Also, Read: Personal loan For 15,000 Salary – Step By Step Guide

Paying the EMI (Equated Monthly Installment):

When you’re buying something pricey, like a house, you and your co-applicant are both in charge of paying back the loan monthly. It’s important because the loan approval and how quickly you get it depend on both of your credit histories. If you miss a payment, it can hurt both your credit scores because the loan is in both names.

apply for personal loan online

4 Things to Think About Before Getting a Personal Loan with a Co-applicant

When you’re thinking about getting a personal loan with someone else, keep these things in mind:

1. Credit Scores: Both of you should have good credit scores, which show you’re likely to pay back the loan.

2. Income: The amount of money both of you make will influence how much you can borrow and your monthly payments. You’ll need a reliable income to make sure you can pay back the loan on time.

3. Debt-to-Income Ratio: This is the chunk of your income that goes to paying off debt each month. It’s best to keep this low so that you can comfortably afford the loan.

4. Repayment Strategy: Have a plan for how you’ll pay back the loan, including how much you’ll pay each month, how long it will take, and any extra fees.

3 Benefits of Personal Loans With Co-Applicant

Getting a loan with someone else can:

1. Boost How Much You Can Borrow: Together, you might be able to get a bigger loan.
2. Get You a Better Interest Rate: Loans might cost less interest if you apply with someone else because it seems less risky to lenders.
3. Improve Payment Terms: You might get more favorable terms for paying back the loan.

Eligibility Criteria for Personal Loans with Co-Applicant

To get a loan with someone else, you both need to:

  • Be Old Enough: For a personal loan with a co-applicant, both applicants should be aged 21 to 58 years.
  • Be Related: They should be a family member like a spouse, parent, or sibling.
  • Make Enough Money: Their income, combined with yours, should cover the loan payments.
  • Have a Good Credit Score: A good score could mean a higher chance of getting the loan and possibly better terms.

Papers You’ll Need to Apply for Personal Loans with Co-Applicant:

1. ID Proofs: Like Aadhar and PAN for identity checks.

2. Address Proofs: Things like utility bills.

3. Income Proofs: Recent pay slips and tax forms.

4. Photos: Passport-size pictures.

5. Bank Statements: To show your financial history.

How to Get a Loan with a Co-Applicant:

1. Start an Online Application: Fill in your details on the lender’s website.

2. Submit Your Documents: Provide your income and ID documents.

3. Wait for a Call: If you meet the requirements, a staff member will get in touch to finish the process.

4. Get the Money: Once everything is done, the money will be put into your account.

But Before You Suit Up:

Before taking the decision of co-applicant, consider asking these points to you co-applicant:

1. Open Communication: Discuss expectations, repayment plans, and potential risks openly and honestly with your co-applicant.

2. Choose Wisely: Pick someone with a stable income and good credit history who understands the commitment.

3. Consider Alternatives: Explore secured loans or lines of credit if a co-applicant isn’t the right fit.

While it’s not always necessary, getting a co-applicant for a personal loan can be beneficial, especially if you’re looking for better loan terms or need to improve your creditworthiness. It’s important to choose someone you trust and to discuss all the responsibilities and potential risks involved. Make sure both of you understand the commitment you’re making. With the right co-applicant and a solid financial plan, you can work together to meet your financial goals. Remember: Taking a loan with a co-applicant is a big decision. Choose wisely, communicate openly, and celebrate your financial victories together!

Thank you for reading! We hope this blog has helped you make informed decisions about co-applicants for personal loans.

Also, Read: Personal Loan for Rs. 14,000 Salary: Eligibility, Tips & Top Lenders

FAQs:

1. Can Someone Else Apply for A Personal Loan with Me?

Yes, another person can apply for a personal loan with you. This type of loan is known as a joint loan. When you and another person apply together, both your income and credit scores are considered.

2. Can Someone Else be on My Personal Loan with Me?

Yes, you can have someone else apply with you for a personal loan.

3. Should I Get A Loan with A Co-Applicant?

Getting a loan with another person might make it easier to approve and could lower your interest rate. You might also get more money than if you applied by yourself. This is a smart move if your credit isn’t great.

4. Will Having A loan with Someone Else Change My Credit Score?

Sharing a loan won’t change your credit score. But if the main person borrowing money doesn’t pay on time, it could hurt your credit score.

5. Can I Have Three Personal Loans At Once?

Yes!

How to File Income Tax Returns in 2024 – Step By Step Guide

Income Tax Return (ITR) filing is the process of intimating details of your yearly income to the Income Tax Department of India. If, in a financial year, you have paid income tax more than what you are liable for, you will get back the extra amount. 

According to Section 139(1) of the Income Tax Act of India, you must file your ITR compulsorily, especially if you are not exempt from paying the income tax. If you miss the due date, you may end up paying a penalty. 

You can file your Income Tax Returns online in two ways. Know them to file ITR yourself without taking help of an agent.

Documents Required For Filing Income Tax Returns

1. PAN and Aadhaar

2. Bank Statements

3. Form 16

4. Donation Receipts

5. Stock Trading Statements from the Broker Platform

6. Insurance Policy Paid Receipts Related to Life and Health

7. Bank Account Information Linked to PAN

8. Aadhaar Registered Mobile number for E-Verifying the Return

9. Interest Certificates from Banks

How to File Income Tax Returns Online

Here is a step-by-step process that you will have to follow to complete e-filing of your income tax:

Step 1: Visit the portal for e-filing, https://www.incometax.gov.in/iec/foportal/ 

Visit the portal for e-filing,

Step 2: Log in to your profile using your credentials like passwords and PAN card number

Log in to your profile

Step 3: Click on ‘e-File’ and then choose the ‘Income Tax Returns’ option 

Click on ‘e-File’

Step 4: Select your concerned ‘Assessment Year’ and ‘ITR Form Number’, and choose ‘Original/Revised Number’ from the dropdown list under ‘Filing Type’, ‘Prepare and Submit Online’ available under ‘Submission Mode’

  • Choose ‘Assessment Year’ (AY) 2024-25 when filing for the Financial Year (FY) 2023-24. For FY 2022-23, select AY 2023-24. File online and ensure you select the correct filing type, either original return or revised return.

Select your concerned ‘Assessment Year’

Step 5: Click on ‘Continue’ and read given instructions properly

Step 6: Fill out the online ITR form with the necessary inputs

Step 7: Choose a verification option by clicking on ‘Taxes Paid and Verification’ (you can go for e-verification instantly or choose to do it later within 120 days of filling the form, or go with the manual verification)

Note: You need to follow steps mentioned below only if you select e-verification.

Step 8: Enter the EVC/OTP 

Step 9: Click on ‘Taxes Paid and Verification’ to verify all the details you have entered before submitting the form and then submit the filled-in form

After this, you will successfully complete the e-filing process of Income Tax Returns. 

If you are not comfortable with the online ITR filing process, you should be aware of how you can do it offline.

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How to File Income Tax Returns Offline Using ITR Utility

Here are the steps you will have to follow to apply for filing the income tax returns offline:

Step 1: Go to the e-filing portal and navigate to the ‘Downloads’ section

Step 2: Download the zip file of ITR utility from the section of ‘IT Return Preparation Software’

Step 3: Fill in ITR form with the required details 

Step 4: Check all your inputs and calculate your income tax obligation

Step 5: Generate the XML file and keep it saved

Step 6: Visit the e-filing portal again and log in to your user account

Step 7: Click on the ‘Income Tax Return’ option available under ‘e-File’ section

Step 8: Fill in the Income Tax Return page by selecting ‘Assessment Year’, ‘ITR form number’, ‘Original/Revised Return and choosing the ‘Upload XML’ option from the dropdown menu of ‘Submission Mode’ 

Step 9: Attach your ITR XML file

Step 10: Choose the DCS verification option and attach your signature file

Step 11: Enter Aadhaar OTP and complete EVC formalities

Step 12: Submit your filled-in ITR form

Upon completing these steps, you will successfully complete ITR filing.

Documents You Will Have to Submit to File ITR

Keep the following documents handy while filing the Income Tax Returns:

  • Salary Slips
  • Passbooks of Savings Accounts and PPF Account
  • PAN Card and Aadhaar Card
  • Form 16/16A/16B/16C/26AS (whichever of these are applicable)

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How to Check Income Tax Return Filing Status

After you complete the e-filing process of ITR and the verification is complete, you can see the status of your ITR filing as ‘Verified’. Later, the status becomes ‘Processed’ when the concerned authority checks and verifies your e-filing application.

If you want to know the status of your ITR filing, you will have to follow the steps mentioned below:

Step 1: Go to the e-filing portal 

Step 2: Click on ‘Income Tax Return (ITR) Status’

Step 3: Provide your acknowledgement number and mobile number, and click on ‘Continue’

Step 4: Enter the OPT sent to your mobile number

After this, you will be able to check the status of your ITR filing.

How to Download Income Tax Verification Slip

An ITR slip is a valid proof of your annual income in a financial year. For this reason, lending institutions check this to know the repayment capacity of willing loan applicants. You may also need this for various other scenarios where you have to supply proof of your annual income.

You will have to follow the steps mentioned below to download your ITR slip:

Step 1: Log in to the e-filing portal

Step 2: Tap on ‘View Returns/Forms’

After these simple two steps, you will be able to see and download your ITR slip.

Filing an Income Tax Return is a legal mandate for the citizens who are liable to pay the income tax. Although it is not mandatory, a non income tax paying individual can also file the same to report their annual income to the Income Tax Department of India. The ITR slip can help you in situations where you need to prove your gross and net annual income.

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FAQs About Income Tax Returns

1. In What Scenarios Do I Need to Submit My ITR Slip?

Submitting the ITR slip becomes necessary while applying for a loan, credit card, visa, etc. It acts as a valid record of the annual income statement.

2. How Can I Check the Status of the ITR Filing Without logging into the e-filing portal?

You will have to go to the e-filing portal and click on the tab for ‘ITR status’. Following this, you will have to enter the ITR acknowledgement number, PAN number and CAPTCHA code to check your ITR filing status.

3. What Are the Different Ways to Generate EVC while Filing ITR?

There are different ways to generate EVC and complete the verification process. You can use your mobile number and email ID, Demat account, ATM card, Aadhaar card, or bank account details, or use the net banking facility to generate your EVC.

Check PAN Card Application Status Online: NSDL and UTIITSL Portal

The Permanent Account Number (PAN) is a ten-digit code that consists of letters and digits. It’s similar to a special card issued by the Income Tax Department. Anyone in need can apply for it, and the department will sometimes grant it to them without asking. Having a PAN allows the department to keep track of everything someone does that is relevant to taxes. This includes paying taxes, receiving money back, disclosing information about income, wealth, or gifts, engaging in certain types of transactions, speaking with tax officials, and more. PAN is similar to a personal identification number when dealing with the tax department.

Have you already submitted an application for a new or duplicate PAN card but haven’t received any update from the authorities for an extended period? In these situations, you can explore methods to check the status of your PAN card instead of stressing. There are several reliable ways available for this purpose. Keep reading to discover more.

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Why Is It Vital To Verify The Status Of Your PAN Card?

So, after you’ve gone through the PAN application process, it typically takes around 15-20 days to land in your hands. But hey, why sit around twiddling your thumbs? You can actually keep an eye on your PAN application status while you wait. It’s a smart move to catch any hiccups early on, you know? So, until that shiny PAN card reaches you, it’s a good call to keep tabs on its status.

What Papers Do I Need To Check The Status Of My PAN Card?

Just drop in your 15-digit acknowledgement number for your PAN application, easy peasy! This service is open every day, from 7 am to 11 pm. Tracking your PAN card application is a breeze, and wanna know more about checking your PAN card status through NSDL or UTIITSL? We’ve got the lowdown for you

How to Track Your PAN Card Status After Applying?

Here are the three primary methods that you may follow to check your PAN card application:

1. Tracking PAN Card Through SMS Service

It is possible to check one’s PAN card application status through their registered phone number. For this method, you will need to keep handy the 15-digit acknowledgement number.

2. You Have To Send A Text Message To The Number

57575 where you must mention your unique 15-digit code. In response, you will receive the current status via SMS.

3. Monitoring PAN Card Status Via Call

For this second method, you have to reach out to any of the TIN call centres. To do this, simply call 020-27218080 and cooperate with their official picking up your call. They will ask for your acknowledgement number along with a few other details if required.

How to Check Pan Card Status by NSDL or UTIITSL Portal

Having this option seems convenient to many people. Under this head, you may reach out to the TIN NSDL or UTIITSL portal and follow the subsequent steps. You can also log in to your E-Mudhra account to check your PAN card application status.

While following this last method, make sure to choose the same platform that you originally used to apply for the PAN card.

In case you had previously applied for a PAN card offline, then visit the official website of NSDL to check the application status.

Also, Read: How to Apply for a PAN Card Online and Offline In 2024.

What is the Process of PAN Card Status Checking via NSDL Portal?

Search for the official website of NSDL and click on the first link, and then follow these steps:

1. Navigate to the option – ‘Application type’.

2. Select the menu option ‘PAN – New / Change Request’.

Track your panPAN Card Status Checking via NSDL Portal

3. You’ll find a box appearing on your device screen. Enter your acknowledgement number here.

4. Enter the CAPTCHA code carefully.

5. Finally, click on the submit button.

What is the Procedure for PAN Card Application Tracking via UTIITSL?

After applying for a duplicate copy or a new PAN card using the UTIITSL platform, you get a unique application coupon number. Keep it safe to check the application status later on.

To check your application status you have to:

1. Visit the official website of UTIITSL

2. Either enter your PAN number (for duplicate PAN card status check) or enter the Application Coupon Number.

PAN Card Application Tracking via UTIITSL

3. Put the CAPTCHA code in the appropriate box.

Check PAN Card Application Tracking via UTIITSL

4. Click on the ‘Submit’ button to see the application status instantly.

Also, Read: How to Change Mobile Number in PAN Card

How to Verify Your PAN Card Application Status Without Entering Acknowledgement Number?

As per the latest directives of TIN-NSDL (also referred to as Protean), you can check your PAN Card status conveniently even without entering your acknowledgement number. This method will be applicable both for new registrants as well as for existing PAN card holders.

Here’s a brief breakdown of the process:

Visit the official website of TIN-NSDL.

  • Go for the option – ‘PAN – New/Change Request’ under the tab named ‘Application Type’.

PAN Card Application Status Without Entering Acknowledgement Number

  • Select the option ‘Name’ instead of ‘Acknowledgement Number’ under the PAN card status head.
  • Feed in some of your personal data like name and date of birth.
  • Lastly, click on the ‘Submit’ button to see the current status of your PAN card application.

Knowing the exact process of PAN card status checking is crucial to avoid confusion later on. It also helps you to raise queries if there’s ample delay following a new application. As you learn the application method, you can download an e-PAN card immediately and continue using it till the time you receive the physical document via the postal service.
Now, in case you are wondering, what an e-PAN card is, we have you covered.

What Exactly is e-PAN Card?

Ever heard of the e-PAN card? It’s like the digital version of that important 10-digit code issued by the Indian Income Tax Department called the PAN card. This thing is a must-have for all sorts of financial stuff like banking, mutual funds, and even filing taxes. It’s your ID for all things tax-related!

Lost your PAN card’s Acknowledgement Number? Don’t worry, it’s like finding the ‘mute’ button during a family video call—tricky, but doable! Follow these steps to learn more

Also, Read: How to Apply for Pan Card Correction Online?

How to Check PAN Card Status Without Acknowledgement Number?

Without the acknowledgement number, you can check your PAN card status through these websites:

1. By using the name and date of birth on the NSDL website

Step 1: Go to the NSDL portal
Step 2: Enter your name exactly as it appears in your PAN application, including First Name, Middle Name, and Last Name/Surname. For applicants who aren’t ‘Individuals’, input your name in the Last Name/Surname section only.
Step 3: Input your date of birth/incorporation/agreement/partnership or trust deed/formation of a body of individuals/association of persons and then click on Submit.

Check PAN Card Status with date of birth on the NSDL website

2. Via the Coupon Card available on the UTI Portal

Step 1: Visit the official UTI website
Step 2: Now enter either the 10-character PAN number or the application coupon number
Step 3: Then, put in your date of birth
Step 4: Fill in the captcha, after that, click to submit button and you are good to go

Check PAN card application Via the Coupon Card available on the UTI Portal

Know How to Track PAN Card Status by Aadhaar Number

In case you want to track your PAN card position through aadhaar card, follow these very simple steps:

Step 1: Head to the Income Tax e-filing website and click “Instant E-PAN” or directly click the link provided here:

PAN Card Status by Aadhaar Number

Step 2: Under “Check Status/Download PAN,” hit “Continue.”

PAN Card Status by Aadhaar Number

Step 3: Enter your 12-digit Aadhaar number and click “Continue.”

Step 4: Enter the OTP sent to your mobile number and click “Continue.”
Boom! Your PAN card status will be displayed right there.

Note: Your mobile number must be linked to your Aadhaar card for OTP authentication.

Also, Read: How To Check Active Loan On PAN Card?

FAQs on PAN Card Status Checking

1. After how many days can I track my PAN card status?

You can track your PAN card application status usually after 5 days from the date of application. At times this number of days may vary if there are certain holidays.

2. When to call for a PAN card status check?

You can reach out to any TIN call centre between 07:00 AM and 11:00 PM by calling 020-27218080. They’ll ask for your acknowledgement number before disclosing the requested information.

3. What is the exact format of sending an SMS for PAN card status check?

You have to type in NSDLPAN followed by the 15-digit acknowledgement number. After that simply forward your text to 57575.

4. Your application is under process at the Income Tax Department. What does this message mean?

When you’re checking your PAN Card status and spot this message, don’t sweat. It doesn’t mean your application got rejected. The thing is, with so many people applying, the officials need a while to give each application a thorough look. Plus, when the website’s jam-packed, updates might take longer than usual. Just hang tight!

5. What is the PAN Card Acknowledgement Number?

When you send in your PAN card application and it’s all good, you’ll get this cool 15-digit code – the PAN card acknowledgement number. It’s your key to checking how your card’s coming along. Plus, within a month, you can download your ePAN card using this number from NSDL or UTIITSL websites.

6. The status of the PAN card says ‘Application is inward’. What does this mean?

This indicates that the department has received the application and is processing it.

Also, Read: 10000 Loan Without a PAN Card in Few Clicks

50000 Loan on Aadhaar Card – Check Eligibility & Step to Apply

Remember those days when applying for loans meant endless paperwork, multiple visits to the bank, and waiting for weeks on end? Thanks to the Aadhaar card, those days are long gone. Aadhaar is like your personal ID in India. It’s a unique 12-digit number that makes life a bit easier. And get this – if you’re ever in a pinch, like a sudden cash crunch or an emergency, you can actually get a loan of up to ₹50,000 using just your Aadhaar card!

It’s pretty handy, right? This loan, offered by some banks and institutions, taps into the trust and security of your Aadhaar details to quickly get you some much-needed cash when you really need it. It’s a lifesaver for unexpected bumps in the road.

So, if you’re short on cash, maybe a medical emergency, or any urgent need, you can sort it out swiftly with your Aadhaar card. It’s a safety net that can really come through in tough times.

Now, let’s break it down a bit more. To get this loan, you’ll want to check the eligibility criteria and the interest rates offered. Usually, having a decent credit history and meeting certain income criteria does the trick.

personal loan

Eligibility Criteria for Rs. 50000 Loan on Aadhaar Card

Here are the basic requirements for being eligible to apply for a Rs. 50000 loan on Aadhaar card:

1. You must be an Indian citizen and employed in either a public or private sector

2. Your salary should be at least Rs. 15,000 per month

3. Ideally, you should fall between the ages of 23 and 58 years old

4. You must have a respectable credit rating, ideally, over 750

These eligibility parameters vary from one lender to another. Hence, you should contact your lender and discuss the personal loan eligibility criteria. This helps you comprehend the actual amount you will be eligible for.

Also, Read: How To Get A 10000 Loan On Aadhaar Card?

Rate of Interest on Aadhaar Card Loan

The table below shows the applicable interest rates on a Rs. 50000 loan on Aadhaar Card:

Financial institutionRate of Interest
Axis Bank10.49% per anum interest
Yes Bank10.70% per anum onwards
mPokket13.75% per annum onwards
Bajaj Finance Limited14% per annum onwards

Note: These interest rates are subject to change without any prior notice. Hence, it is always a good idea to get in touch with the lender and enquire about the features and benefits of Rs. 50000 Loan on an Aadhaar Card.

Also Read: How to Get Rs. 2 lakh Personal Loan on Aadhaar Card?

What’s the EMI for a ₹50,000 Aadhaar Card Loan?

To calculate the Equated Monthly Installment (EMI) for a loan, we can use the formula:

EMI = P x R x (1+R)^N / [(1+R)^N-1] 

Where:

P is the principal amount (the initial amount of the loan),

R is the monthly interest rate (annual interest rate divided by 12),

N is the number of months.

Let’s assume an average interest rate from the ones provided, as the exact rate might depend on the bank and other factors. Taking an average of the rates provided (which range from 10.25% to around 14.49%), let’s use an approximate rate of 12% per annum for calculation purposes.

First, we convert the annual interest rate to a monthly interest rate by dividing by 12:

R = 12% / 12 = 1% per month = 0.01 (as a decimal)

Then, we use the formula with:

P=50,000
R=0.01
N=12
Let’s calculate the EMI using these values.

The calculated Equated Monthly Instal lment (EMI) for a ₹50,000 loan using an Aadhaar card at an approximate average annual interest rate of 12% for a period of 12 months would be approximately ₹4,442.44 per month.

EMI Calculation On Rs 20,000 Personal Loan on Aadhaar Card:

Feature & Benefits of ₹50,000 Aadhaar Card Loan

When you opt for a ₹50,000 loan using your Aadhaar Card, you open doors to a range of benefits. These perks go beyond the loan itself, offering you access to a variety of useful features that come with this borrowing option. Below are some key features of it:

  • Minimum Documentation

You just have to submit your income proof and KYC documents to apply for a loan on an Aadhar card. Once the lender verifies the documents, it hardly takes a few hours to receive the funds in your bank account.

  • Flexible Loan Quantum

You can opt for a Rs. 50000 loan just using your Aadhaar card. However, you can also get a loan of up to Rs. 40 lakhs from some of the leading financial institutions.

  • Instant Approval

The simple and hassle-free documentation process allows you to receive funds within the shortest turnaround times. In some cases, you might even get the loan amount within a few minutes after making the application.

  • Flexible Repayment Tenure

You have the option to choose a flexible repayment tenure of up to 84 months or 7 years. This factor also varies across lenders and the borrower’s eligibility.

  • Collateral-Free Credit

You can get a Rs. 50000 loan on an Aadhaar card without mortgaging or pledging any asset. As these loans are unsecured, you will receive the funds as per your eligibility criteria.

Ensuring a hassle-free process, the documents required for this loan on your Aadhaar Card are straightforward and easy to gather. Here’s what you’ll need.

Also, Read: How to Apply for a ₹1000 Loan on Aadhaar Card?

Documents Required for 50000 Aadhaar Card Loan

The following paperwork is typically needed to apply for a loan of Rs. 50000 on Aadhaar card:

  • PAN card
  • Bank statements from the past three months
  • Address verification documents (voter id, passport, etc.)

Note: Each lender may have their own set of requirements. Therefore, you must get in touch with the lender to keep the documents in hand and expedite the loan application procedure.

Things to Check Before Applying for a 50,000 Loan Using Your Aadhar Card:

Consider the following key factors before applying for a ₹50,000 loan using an Aadhaar card online:

1. Rates and charges: Shop around to compare various interest rates and fees to secure the most favorable deal. Grasp the overall expense of the loan.

2. Payment feasibility: Confirm that the repayment period provided by the lender matches your financial standing and repayment ability.

3. Paperwork: Make sure all submitted documents are current and valid.

4. Read the fine print: Understand all the terms and conditions before agreeing to the loan, focusing on interest rates, repayment plans, and the consequences of late payments.

5. Purpose of the loan: Ensure the loan serves your financial objectives and avoid incurring debt unnecessarily.

6. Creditworthiness: Maintain a solid credit score to minimize the chances of loan denial.

The Aadhaar card has revolutionized the way we apply for loans online, making the process incredibly simple and hassle-free. With just one document, you can now verify your identity, address, age, and citizenship, eliminating the need for a pile of paperwork. Here’s a step-by-step guide to make the process easy and convenient:

Also, Read: How To Apply For ₹5000 Loan On Aadhaar Card?

How to Apply for a 50,000 Loan on Aadhaar Card?

1. Pick your smartphone or hop on your computer: Start by downloading a trusted instant loan app or visiting the loan provider’s website.

2. Create your account: Simply enter your mobile number and email ID to get started.

3. Link your Aadhaar card: Provide a mobile number that’s linked to your Aadhaar card. This will help verify your identity and address.

4. Enter your Aadhaar and PAN details: Key in your 12-digit Aadhaar card number to serve as your KYC (Know Your Customer) proof. Also, provide your PAN card details for additional verification.

5. Upload additional documents (if required): Some websites may ask for a scanned copy of your Aadhaar card along with other income-related documents. This helps assess your financial situation.

6. Sit back and relax: Once the verification process is complete, the approved loan amount will be directly credited to your linked bank account.

Remember:

  • Eligibility criteria and interest rates may vary between lenders.
  • Always compare options and choose a loan that suits your needs and financial situation.
  • Repay your loan responsibly to maintain a good credit score

And here’s a neat trick: platforms like Credmudra play matchmakers between you and lenders, making it easier to navigate. They simplify the process, connecting you with the right lenders who offer these Aadhaar-based loans. You can go to Credmudra’s website, enter some basic info, and we’ll guide you through the options available.

How to Apply for Rs. 50000 Loan on Aadhaar Card from Credmudra?

The goal of Credmudra’s user-friendly application procedure is to pair you with the lender who has the best chance of approving your personal loan. Applying for a Rs. 50000 loan with an Aadhaar card is incredibly easy if you follow these simple steps:

Visit credmudra

Step 1: Enter your phone number on the Credmudra website.

Enter your phone number

Step 2: Enter your loan information after having your phone number verified.

Enter your loan information

Step 3: Provide your employment and personal information.

enter employment detail

Step 4: Enter your contact information and submit your loan application.

That is all about a Rs. 50000 loan on Aadhaar card. This is one of the greatest loan instruments in the market, especially in light of the minimal paperwork requirements and straightforward application process. So, while your Aadhaar is the key, platforms like CredMudra are the friendly guides making sure you get the best deal when you need it most.

Apply loan from credmudra

FAQs on Rs. 50000 Loan on Aadhaar Card

1. How much personal loan can I get using my Aadhaar card?

You can get up to Rs. 40 lakhs as a loan using your Aadhaar card. However, you have to fulfil the other eligibility criteria set by the lender.

2. What is the eligible age for an Aadhaar card loan?

In order to get a loan on Aadhaar card, you must fall in the age group of 23 to 58 years old. This parameter differs from lender to lender. Hence, you should contact the lender to know their eligibility requirements.

3. I am unemployed. Can I get a loan using my Aadhaar card?

To apply for a loan using your Aadhaar Card, you must provide your last three months’ worth of pay stubs and bank statements. As a result, if you lack a job, you cannot apply for a loan using your Aadhaar Card.

4. How much is the monthly installment for a ₹50,000 loan?

The Equated Monthly Installment (EMI) varies based on factors such as the interest rate and loan duration. By employing an EMI calculator, you can precisely compute your loan’s EMI. For instance, with a hypothetical 12% interest rate across a 24-month period, the EMI would be around ₹2,346.

5. Do I need only an Aadhaar card for a loan?

While your Aadhaar card is important for verifying your identity, lenders usually ask for more documents like proof of address, income, and other KYC papers. So, while Aadhaar is crucial, it’s not usually the only document needed for a loan.

Also, Read: How to Get Rs. 2 lakh Personal Loan on Aadhaar Card?

 

How to Get Rs 3 Lakh Loan Without Documents?

Loan application and processing are lengthy and tedious processes. Applicants also spend a lot of time gathering essential documents, scanning them, and submitting them to the lender. 

Fortunately, digitization has paved the way for pre-approved instant personal loans without document. Lenders offer these loans to existing borrowers or account holders since they already have their KYC details such as PAN, Aadhar card number, identity and address proof, etc. You get the loan amount disbursed immediately after the loan approval. 

personal loan

This blog covers everything from application to eligibility to ways to expedite your 3 lakh loan without document for new and existing customers.  

Eligibility Criteria of 3 Lakh Loan Without Documents

To get a Rs. 3 lakh loan, you must fulfill the following conditions:

Citizenship – You must be an Indian citizen to apply for a Rs. 3 lakh loan 

Age Criteria – You must be between 21 and 80 years old

Employment Status You must be either employed with an MNC, private or public agency or be self-employed

High CIBIL Score Your CIBIL score must be 685 or higher

Monthly Income – Your monthly income should be greater than Rs 15,000. The range varies for different lenders. 

If you’re a new customer applying for an urgent loan, check the lender’s pre-assigned loan limit by entering your mobile number and OTP on the lender’s login page.

Also, Read: Personal Loan for 8000 Salary : Step By Step Guide

Documents Required for 3 Lakh Loan Without Income Proof

Your lender will have your ID, address, and income proof if you are an existing customer. However, your lender may need updated documents if your employment status or monthly income has changed. 

As a new customer, you’re required to submit supporting documents as mentioned below:

ID Proof – Voter’s ID, PAN Card, Passport, Aadhar card, etc. 

Address Proof – Driving License, utility bills, Aadhaar card, rent agreement, etc. 

Income Proof – If you’re salaried, submit the latest salary slips (usually of the last three months) or the latest Form 16. If self-employed, submit your ITRs (Income Tax Returns) as income proof. 

Note: A few lenders do a photo-identity verification where you may not need to submit identity proof. 

How To Apply 3 Lakh Loan Without Income Proof?

As an existing customer, follow these simple steps to apply for a Rs. 3 lakh loan:

A. Login to Your Account – Access your existing lender’s portal through their mobile app or website. 

B. Check Eligibility – Review the eligibility criteria for the loan, such as income requirements, credit score, etc. 

C. Fill Out the Application Form – If you fulfill the eligibility criteria, fill out the loan application form. 

D. Review And Submit – Review the interest rate, repayment schedule, late payment penalties, etc., and submit the loan application form. 

E. Wait for the Approval – After submitting the form, let the lender notify you when it’s approved. You’ll receive the loan amount right after approval. 

If you’re a new customer, follow this step-by-step guide to apply for a personal loan.  

Interest Rate and Tenure of 3 Lakh Rupee Loan Without Document

The interest rates mentioned here are standard. They may change depending on your credit score, employment status, loan repayment history, etc. 

Banks Interest Rates 
ICICI Bank  10.80% onwards
IDFC Bank10.75% onwards 
HDFC Bank          10.50% onwards  
IndusInd Bank10.49% onwards 
Axis Bank     10.49% onwards  

Check Your EMI On A 3 Lakh Rupee Loan

You can calculate your EMI using an EMI calculator or manually with the following formula:

EMI = P x r x (1+r)n/((1+r)n-1)

Where 

P = Loan amount

r = Interest rate

n = Tenure in months

So for P= 3,00,000 

r = 10.5% 

n = 12 months 

EMI = Rs. 26,445

Of which, 

Interest Payable = Rs 17,335

Total Payable = Rs 3,17,335

Similarly for, 

Tenure EMI 
24 months Rs. 13,913
36 months Rs. 9,751
48 months Rs. 2,744

While you can calculate EMIs with the formula, use this EMI calculator for an error-free calculation.

Many lenders offer repayment tenure of up to 94 months. 

Also, Read: Get 10000 Loan On Aadhaar Card – Step By Step Guide

Benefits Of Applying For A Loan Without Documents 

In addition to quick loan approval, there are several other benefits to applying for a loan without documents. We’ve listed a few below:

1. Say Goodbye to Paperwork 

All existing borrowers get pre-approved personal loan offers from their lenders. This means the lender is already aware of your financial condition and knows you meet the basic requirements of a loan application. By filling out the loan application form, you get the amount disbursed by the lender quickly after the loan approval. So bid adieu to paperwork and the long wait to get your loan approved!

2. Enjoy An Unsecured Loan

The biggest benefit of personal loans is they’re collateral-free. No need to pledge an asset against the funds. All you need is a favorable repayment history and a good credit score! 

3. Get Multiple Repayment Options 

When applying for a loan from a lender whom you’ve been a customer of, you get flexible repayment options. So you can repay the loan from anywhere between 12 months to 94 months. The duration varies from lender to lender. Check with your lender to understand their repayment schedule.  

4. Enjoy Low-Interest Rates 

If you have been associated with a lender for a long time, are may offer you a personal loan at relatively lower interest rates. 

Struggling to find the right lender that aligns with your needs? Get matched with the right lender through Credmudra. 

Expedite The Loan Approval Process With These Steps 

Adhere to these best practices to enjoy a hassle-free loan approval process: 

1. Ensure Faultless Repayment History

A clean repayment history speaks volumes about your credit behavior. A history of timely repaying previous loans leaves your lender worry-free.

2. Ensure a High CIBIL Score

When you have a clean loan repayment history, a high CIBIL score follows. A credit score of at least 750 reflects responsible credit behavior, increasing the probability of getting pre-approved instant personal loan offers. Since personal loans are collateral-free, lenders pay extra importance to credit scores when evaluating loan applications. Some lenders offer loans with lower interest rates to individuals with good credit scores. 

4. Maintain Long-Standing Relationship with Lender

Maintaining a long-term relationship with a lender helps with quick loan approvals, regardless of the loan type or amount. It simplifies the application process and documentation and leads to quicker loan approvals. 

5. Maintain A 50% or Less Debt-To-Income Ratio 

A debt-to-income ratio of 50% or less is favorable for quick loan approval without documents. The lower the ratio, the greater your repayment abilities are. 

Also, Read: Personal loan For 15,000 Salary – Step By Step Guide

FAQs

1. Can I Get A Rs. 3 Lakh Loan Without Submitting My PAN Card? 

When you’re applying for a loan from your existing lender, you may not be required to submit your PAN details as your existing bank may already have them. Some lenders sanction loans without a PAN card if you submit Form 60 instead. 

2. As A Self-Employed Person, What Should I Submit Instead of Salary Slips? 

Self-employed individuals can submit ITR (Income Tax Return) documents as proof of income. It helps lenders evaluate loan repayment capacity. 

3. How Can I Find Lenders Who Offer Loans Without Documents? 

Search for lenders who mention “no documents required” or “minimal documentation required” on their website. Consult your friends and family who have used these services to make an informed decision. 

4. Can I Get A Rs. 3 Lakh Loan With A Bad Credit Score?

Some lenders may sanction loans to individuals with poor credit scores at higher interest rates or with a co-signer. 

5. Should I Be Cautious When Applying for A Loan Without Documents? 

When applying for a loan from a new or unknown lender, research and check whether they’re a registered entity before proceeding. 

Get 10000 Loan On Aadhaar Card – Step By Step Guide

What is an Aadhaar card?

Aadhaar is like your unique social security number but for India. It’s a 12-digit code that’s linked to your fingerprints and other personal info. Anyone who lives in India or has spent more than 6 months there in the past year can get one. It’s totally voluntary, but it can be really helpful for things like opening a bank account or getting a job.

personal loan

So, let’s be real, we’ve all been there—sudden expenses popping up out of nowhere and hitting us hard. Bills stacking up, and aah! It feels like a financial tension. But hey, here’s the deal: ever thought about using your Aadhaar card for a quick personal loan fix? No collateral is needed and with cool schemes like snagging a 10K loan just using your Aadhaar card.

Check this out: Credmudra. It’s your ticket to ease those money woes. Tap into it, apply for the loan hassle-free, and wrap things up with a few clicks. Easy-peasy, right? Follow these really simple steps to get a loan of 10,000 on your Aadhar card.

Now, let’s see the the criteria for eligibility to get the 10,000 loan on your Aadhar card. 

Eligibility Criteria for Rs 10,000 Loan On Aadhaar Card 

A seamless application process and a list of basic eligibility credentials make Aadhaar card loans an impressive scheme. Before seeking the loan, check out these pointers to ensure an error-free application:

  • Only Indian residents are fit for Aadhaar loans.
  • The minimum age while applying should be 21 years whereas those above 65 years of age are held ineligible.
  • The applicant needs to be a working individual linked with a public/ private company or an MNC at present.
  • Credit score should be at least 650 or above.

Besides these conditions, it is important to note that the income proof one presents must only include the transactions that directly get credited to their bank account. 

Aadhaar card loans, with their simplified application process and collateral-free nature, have emerged as a popular choice for many, who want quick access to funds. In this comparison table, explore the interest rates, processing fees, and prepayment charges,  associated with a ₹10,000 loan facilitated through Aadhaar cards.

Interest rate Starts at 9.30% per anum
Processing FeeUp to 2% of the approved loan amount
Prepayment ChargesUp to 4% of the outstanding loan amount
Also, Read: How To Apply For Rs. 5000 Loan On Aadhaar Card?

List of Mandatory Documents for Rs 10,000 Loan On Aadhaar Card

Here we have mentioned all the necessary documents for both self-employed and salaried Indians willing to apply for a 10000 loan on an Aadhaar card:

1. For Self-Employed Individuals

Self-employed Indians wishing to secure an online personal loan on an Aadhaar card need to submit the following documents:

  • Any 1 ID proof document (Aadhaar card/ PAN card/ Valid Voter ID/ Driving Licence/ Passport)
  • Any 1 address proof document (Utility bills like gas or electricity bills/ Passport/ Voter ID)
  • Bank statements showcasing transactions of the previous 3 months (in PDF format)
  • IT returns or Form 16

However, if you are already registered with Credmudra and have finished the oKYC process, we will take care of these formalities. 

2. For Salaried Individuals

For salaried applicants too, the required documentation is almost similar. Only there is a small difference in the income-proof segment. 

Go through this list to get an idea of the necessary documents:

  • Any 1 ID proof document (Aadhaar card/ PAN card/ Valid Voter ID/ Driving Licence/ Passport)
  • Only 1 address proof document (telephone/ electricity/ gas bill or a valid Voter ID)
  • Pay slips of the previous 3 months issued by the current employer

Usually, Credmudra’s internal team requires just 2-3 minutes to verify your eligibility. So, you may expect an instant disbursal while applying.

Also, Read: How to Get Rs. 2 lakh Personal Loan on Aadhaar Card?

EMI Calculation On Rs 10,000 Personal Loan on Aadhaar Card:

To calculate the EMI (Equated Monthly Installment) for a Rs 10,000 loan, the interest rate and loan tenure are essential. In the absence of specific details, a general formula and an example with assumed figures are provided below.

EMI Calculation Formula:
The EMI can be calculated using the formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where:

  • P is the loan amount (Principal),
  • R is the monthly interest rate,
  • N is the number of monthly installments.

Now, let’s assume an interest rate of 12% per annum (which is 1% per month) and a loan tenure of 12 months.

P=10,000 (the loan amount),
R=1%=0.01 (monthly interest rate),
N=12 months (loan tenure).

Let’s calculate the EMI based on these assumptions.

Based on the assumptions of a 12% annual interest rate and a 12-month loan tenure, the EMI for a Rs 10,000 loan would be approximately Rs 888.49.
Remember, the actual EMI can vary depending on the lender’s specific interest rate and loan terms. ​

Easy Steps to Apply for Rs. 10,000 Aadhaar Card Loan 

Getting a loan in India based solely on an Aadhaar card involves a process that typically includes the following steps. It’s important to note that while an Aadhaar card serves as vital identity proof, lenders will require additional documents and checks to evaluate your creditworthiness and comply with KYC (Know Your Customer) norms.

1. Check Eligibility Criteria:

As outlined earlier in the blog, it’s crucial first to determine if you meet the general eligibility criteria. Once you’ve confirmed your eligibility, you should then review the specific eligibility requirements set forth by various lenders.

2. Research Lenders:

  • Banks and NBFCs: Traditional banks and Non-Banking Financial Companies (NBFCs) offer personal loans that can be applied for with minimal documentation, including Aadhaar.
  • Online Lenders: Fintech companies and digital lending platforms often have less stringent requirements and faster processing times.

3. Understand the Terms:

  • Interest Rates: Compare the interest rates offered by different lenders to find the most cost-effective option.
  • Repayment Terms: Understand the loan tenure, EMI amount, and any prepayment charges.

4. Prepare Necessary Documents:

Compile the necessary documents listed in the blog’s previous sections for further processing or application steps.

5. Apply for the Loan:

  • Online Application: Many lenders allow you to apply online by filling out a form and uploading digital copies of your documents.
  • Verification Process: After application, there might be a verification process where the lender verifies the documents and information provided.

6. Loan Approval and Disbursement:

The loan amount is typically disbursed to your bank account if your application is approved. The time taken for disbursement can vary from a few hours to a few days, depending on the lender.

7. Repayment

Ensure timely repayment of EMIs to avoid penalties and negative impact on your credit score.
To know the EMI on a 10,000 loan on an Aadhar card, you can check out the below calculation:

Also, Read: 20000 Loan on Aadhaar Card : Check Eligibility, and Steps to Apply

Points to Remember Before Applying for Rs. 10,000 Aadhaar Card Loan

Before you think about getting a loan with your Aadhaar card, here’s what you should keep in mind:

1. Look Around Before Choosing: Before you decide on a loan, take the time to look at what. different lenders offer. You’ll want to compare things like interest rates, how easy it is to apply (like if it’s all done online), and any additional costs like processing fees. Choose someone you can trust.

2. Know Your Credit Score: Your credit score is like a report card for your finances, and lenders look at it to decide if they can trust you with a loan. If your score is low, there’s a chance your loan application might not make the cut. Keep an eye on your credit score to steer clear of any surprises when applying for a loan. If you find your score isn’t where it should be, check out our tips on improving your credit rating.

3. Only Borrow What You Need: Here’s a friendly piece of advice: only ask for the amount you actually need, not the maximum you might get approved for. This way, you won’t be overwhelmed by too much debt. For instance, if you get an offer for a Rs.5 lakh loan but only need Rs.1 lakh, just go for the Rs.1 lakh. Of course, if you’re sure you can handle paying back more, then adjusting your loan amount accordingly is okay.

4. Be Aware of Extra Fees: It’s not just about the loan amount and interest rates—some lenders might also charge you for paying off your loan early or for processing your loan application. These fees aren’t the same everywhere, so it’s something to look out for.

Tips for a Smooth Process for Aadhaar Card Loan

1. Check Credit Score: Before applying, check your credit score to ensure there are no surprises.

2. Read the Fine Print: Be aware of all terms and conditions, including any hidden fees and charges.

3. Consider Loan Insurance: For larger loan amounts, consider getting loan insurance to cover unforeseen circumstances.

The best part about Aadhaar loans is they do not attract any processing fees as well as pre-closure charges. Also, one may apply for a personal loan of up to Rs. 50,000 only by submitting their Aadhaar details. So what are you thinking about?

Join the Credmudra community and check out other related offerings today!

Also, Read: How to Apply for a ₹1000 Loan on Aadhaar Card?

FAQs On 10000 Loan on Aadhaar Card:

1. How does the disbursal take place for Aadhaar loans?

Upon receiving your personal details and income proof documents, Credmudra determines your creditworthiness and finds the perfect lender for you. If you meet all the lender-specific criteria, the amount gets transferred to your account immediately.    

 2. Why is Credmudra the best platform to apply for a 10000 loan on an Aadhaar card?

Credmudra allows its users to apply for 100% paperless personal loans that come with low interest rates. Also, in case of any confusion the loan applicant may connect with customer support for real-time solutions. 

 3. Is it possible to get an Aadhaar card loan without owning a PAN card?

Yes, lenders do not decline your Aadhaar loan request even if you do not possess a PAN card. However, all the other documents, as mentioned on the lender’s website, have to be provided.  

4. Can anyone get a loan of Rs. 50,000 by submitting their Aadhaar?

First, the applicant must mention their requirements and fill up the application form. After that, the lender will analyse their summary and come up with a counteroffer mentioning the maximum permissible loan.

5. What is the age limit for a 10,000 personal loan on an Aadhar card?

Anyone who falls into the age group of 21 to 60 years old, can apply for this type of loan.

Also, Read: Apply for a Rs. 50,000 loan on an Aadhaar Card

 

How to Get Rs. 2 lakh Personal Loan on Aadhaar Card?

Ready to handle life’s curveballs? Now, take charge of sudden expenses or personal emergencies effortlessly with a Rs. 2 lakh loan using just your up-to-date Aadhaar Card. Simplified documentation, fewer hoops to jump through, and an easy application process make Aadhaar Card loans easy. Get access to a Rs. 2 lakh loan through top banks and NBFCs, complete with competitive interest rates. Keep scrolling to discover interest rates offered by leading lenders and more.

personal loan

Key Features & Benefits of Rs. 2 Lakh Loan on Aadhaar Card 

Take a look at the multiple features and benefits of a Rs. 2 lakh personal loan on Aadhaar Card:

  1.  Minimal Documentation: Say goodbye to piles of paperwork. All you need is your Aadhaar Card and a few basic KYC documents to get started.
  2. Flexible Loan Amount: Access loans ranging from Rs. 2 lakh to a maximum of Rs. 40 lakh, tailored to your specific needs and financial situation.
  3. Instant Approval: Experience the speed of Aadhaar-based verification. Get quick approvals in just a few minutes, empowering you to tackle emergencies efficiently.
  4. Stretchable Repayment Tenure: Choose a repayment plan that suits your budget, with tenures spanning up to 84 months or 7 years.
  5. Zero Collateral Required: No need to worry about putting up any assets as security. Aadhaar Card loans are hassle-free and require no collateral.
  6. Instant Disbursal: Once your documents are verified, you can receive your loan amount within 24 hours, ensuring prompt access to funds.
  7. Absolute Transparency: Enjoy complete transparency with no hidden charges or fees. Get a clear picture of your loan terms and repayment schedule from the outset.

With their ease of application, these loans empower you to take control of your finances and navigate life’s unexpected expenses with confidence. So, let’s now understand who all are eligible to get this loan

Also Read:  How To Apply For ₹5000 Loan On Aadhaar Card?

Eligibility Criteria for Rs 2 Lakh Loan on Aadhaar Card

To qualify for a Rs. 2 lakh personal loan using your Aadhaar Card, consider these general criteria. Keep in mind, that these may vary among different lenders:

  1. Employment in the public or private sector with a steady income
  2. Indian citizenship
  3. Minimum monthly salary of Rs. 15,000
  4. Age between 23 and 58 years
  5. A healthy credit score, ideally above 750

Documents Required For Rs. 2 Lakh Loan on Aadhaar Card 

When applying for a Rs. 2 lakh loan on your Aadhaar Card, commonly requested documents include:

  1. PAN Card
  2. Bank statements covering the last 3 months
  3. Address proof such as Passport, Driving License, or Voter ID

Remember, specific criteria can differ across lenders. It’s advisable to verify with your chosen lender before proceeding with your application.

Also, Read: How To Get A 10000 Loan On Aadhaar Card?

Rate of Interest on Rs. 2 Lakh Loan on Aadhaar Card 

Seeking the best rates for a Rs. 2 lakh loan on your Aadhaar Card? Explore the table below to compare interest rates offered by leading lenders for personal loans of Rs. 2 lakh:

LenderRate of Interest
Axis Bank10.49% p.a. onwards
Yes Bank10.70% p.a. onwards
Muthoot Finance13.75% p.a. onwards
mPokket24% p.a. onwards
Bajaj Finance Limited14% p.a. onwards

In today’s fast-paced world, unexpected expenses can pop up at times, leaving you feeling overwhelmed and financially strained. That’s where an Aadhaar Card loan comes in as a lifeline, providing you with quick and convenient access to funds of up to Rs. 2 lakh. With minimal documentation, flexible loan amounts, and much more, Aadhaar Card loans are designed to make your life easier.

Calculate the EMI for 2 lakh Aadhaar Card Loan

The EMI (Equated Monthly Installment) for a loan is calculated using the following formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where:

  • P is the principal amount (the original sum borrowed),
  • r is the monthly interest rate (annual interest rate divided by 12 and then by 100 to make it a decimal),
  • n is the total number of monthly installments (loan tenure in years multiplied by 12).

Rs 2 Lakh Personal Loan EMIs Over 1-5 Years

Here’s a tabular representation of the EMI calculated at a 12% annual interest rate for a ₹2 lakh loan over different tenures:

Tenure (Years)EMI (Rs)
1₹17,769.76
2₹9,414.69
3₹6,642.86
4₹5,266.77
5₹4,448.89

Please be aware that these EMI figures are estimates; the real amounts may differ.

Also Read:  How To Apply For ₹5000 Loan On Aadhaar Card?

How to Apply for Rs. 2 Lakh Loan on Aadhaar Card 

The application process is really simple for availing a Rs.2 lakh loan on an Aadhaar Card: 

Step 1: Visit the Credmudra website , click the “Get Matched Now” Button.

Visit Credmudra.com for 2 lakh aadhar card loan

2. Enter and verify your phone number.

Go to personal loan page

Step 3: Enter your 2 lakh personal loan details.

loan details

Step 3: Provide your employment & personal details.

employment type

Step 4: Enter your address details and submit your loan request. 

This is all you need to know about a Rs. 2 lakh personal loan on Aadhaar Card. Considering the minimal documentation, and simple application process, this is one of the best loan facilities available in the market. 

Whether you’re consolidating debt, pursuing higher education, or funding your dream vacation, a personal loan can serve as a valuable financial tool. Empower yourself today and take charge of your financial future. Credmudra’s compatibility-based application process aims to match you with the lender with whom you have the highest possibility of getting a loan.

Also, Read: How to Apply for a ₹1000 Loan on Aadhaar Card?

FAQs on Rs. 2 lakh Loan on Aadhaar Card

1.  Can I get a personal loan with just my Aadhaar Card? 

Yes, you can get a personal loan with only your Aadhaar Card but a lender will also require other supporting documents to verify. 

2. Can I get a loan of Rs. 10,000 on an Aadhaar Card instantly? 

Yes, you can get a Rs. 10,000 loan on an Aadhaar Card instantly. Aadhaar Card loans require minimal time for approval and disbursal.

3. Can I get a loan on my Aadhaar Card if I am currently unemployed? 

You need to submit your last 3 month’s salary slips and bank statements to get a loan on Aadhaar Card. Hence, you cannot take a loan on your Aadhaar Card if you are unemployed.

4. What is a Rs 2 Lakh loan on an Aadhaar card?

Embrace financial flexibility with a Rs 2 Lakh loan on an Aadhaar card, a personal loan tailored to your needs. Borrow up to Rs 2 Lakh based on your Aadhaar card and a few simple eligibility criteria, empowering you to achieve your financial aspirations.

 5. How long does it take to get approval for an Aadhaar card loan?

Gone are the days of lengthy loan approval processes. With Credmudra, your Aadhaar card loan can be approved within 24 hours, subject to your documents and eligibility.

 6. Can I get more than one loan on an Aadhaar card?

Yes, the possibility of obtaining multiple Aadhaar card loans depends on your creditworthiness and the financial institution’s policies. However, it’s crucial to manage your loans responsibly to maintain a healthy credit score and avoid financial overextension.

7. What happens if I default on an Aadhaar card loan?

Repaying loans on time is essential for maintaining a good credit score and avoiding legal consequences. Defaulting on an Aadhaar card loan can negatively impact your creditworthiness and may lead to legal actions by the financial institution. Prioritize timely loan repayments to safeguard your financial future.

Also, Read: 20000 Loan on Aadhaar Card : Check Eligibility, and Steps to Apply

PAN Card Correction/Update Online : Step By Step Guide

The permanent Account Number (PAN) is a special ten-digit code made up of letters and numbers. It’s like a special card given out by the Income Tax Department. Anyone who needs it can apply for it, or sometimes the department gives it without asking. Having a PAN helps the department keep track of all the stuff someone does that’s related to taxes. This includes paying taxes, getting money back, sharing info about income, wealth, or gifts, doing certain kinds of deals, talking with the tax people, and more. PAN is like a personal ID for dealing with the tax department.

The idea behind PAN is to connect lots of different papers and things, like paying taxes, checking how much to pay, old taxes owed, and other stuff about someone’s money situation. It makes it easy to find info and compare different things about where someone puts their money, gets loans, and does business. This helps catch and stop people who try to cheat on taxes and makes sure more people pay what they’re supposed to.

personal loan

Why Is It Crucial For You To Update Your PAN Card?

When it comes to banking and important stuff, having a PAN card is a must. It’s got all your personal info like your name, birthday, and contacts. But if there’s a mistake, it can cause headaches later. Good news though – you can fix it online all on your own.

Scroll down to find out the ways you can update your PAN card.

How to Correct PAN Card Information Online?

As you may have already perceived, certain personal details stay printed on your PAN card. Additionally, other information can be fetched using this document. If any of such inputs are incorrect, it is suggested to apply for correction immediately.

The correction of PAN card is possible either through:

1. NSDL Portal
2. UTIITSL portal

Also, Read: How to Get Instant Loans with Aadhaar Card and Pan Card

Stepwise PAN Card Correction Procedure via NSDL Website

Here’s a quick breakdown of the step-by-step guide for correcting your personal details on your PAN card via the NSDL platform:

Step 1: Visit the official website of NSDL.

Step 2: Navigate to the ‘Services’ tab and click on ‘PAN’ from the dropdown menu.

Visit the official website of NSDL for Pan card correction online

Step 3: Next, select the option ‘Change/Correction in PAN Data’ and proceed to apply for the same.

Change/Correction in PAN Data

Step 4: Here you have to fill up the Online PAN Application that will ask for these details:

Changes or corrections to an existing PAN are the type of application.

PAN Card Data / Reprint Category: Choose the appropriate category from the drop-down menu. If you do not own a business and are submitting your personal income tax return.
Other information: Fill in any additional personal information, such as:

  • Date of Birth/ Incorporation/ Formation
  • Last Name / Surname
  • First Name
  • Middle Name
  • Email Address
  • Mobile Phone Number
  • Citizenship (whether Indian or not)Finally, fill in the CAPTCHA code and click on ‘Submit’.

fill up the Online PAN Application for correction

Step 5: You can use the provided Token number to access the draft version of this online form. This process comes in handy at times of session timeouts.

To proceed to the next step, click on ‘Continue with PAN Application Form’.

Step 6: Submit your scanned documents for e-KYC and upload a digital signature to authorise corrections in your PAN card.

Submit e-KYC for Pan card correction

Step 7: Confirm whether you will require a new physical PAN card showing the updated information.

Step 8: Provide the last four digits of your Aadhaar card.

last four digits of your Aadhaar card.

 

Step 9: Check the boxes against all parameters that need to be updated on your PAN card. After this is done, click on ‘Next’.

Check the boxes

Step 10: Mention your current address on a new page.

Mention your current address

Step 11: Provide proof of your current address status by uploading a relevant image.

Provide proof of your current address

Step 12: In this self-declaration section you will need to mention your name, select between ‘himself’ or ‘herself’ and mention the residential location.

mention the residential location.

Step 13: Upload your formal signature along with your most recent photograph and click on ‘Submit’.

Upload your formal signature

Step 14: Enter the first eight digits of your Aadhaar card to specify that the mentioned details are true.

Enter the first eight digits of your Aadhaar card

Step 15: Furnish the nominal payment that is charged for issuing a new PAN card.

nominal payment

Step 16: Once the KYC verification gets completed, ensure to go through the ‘Terms and Conditions’. Accept it and select the option ‘Authenticate’.

Accept ‘Terms and Conditions’.

Step 17: Provide the OTP sent to your Aadhaar-registered mobile number.

OTP sent to your Aadhaar-registered mobile number

 

Step 18: Complete the e-sign, to get another ‘Terms and Conditions’ box.

complete e-sign,

Step 19: Now, as soon as you type in your Aadhaar number, an OTP is issued to your number for instant verification.

type your Aadhaar number

Step 20: Complete the verification to receive your acknowledgment form for PAN card correction.

Complete the verification

Please note that this file remains password-protected. The password is by default your date of birth in the format DD/MM/YYYY.

Also, Read: How to Apply for a PAN Card Online and Offline In 2024

Alternative Method for Correction of PAN Card Through UTIITSL

Updating one’s PAN details via UTIISL’s official website is possible by following these steps:

Step 1: Enter the website and navigate to ‘Click to Apply’ under the section ‘Change/Correction in PAN Card’.

Step 2: Select the option ‘Apply for Change/Correction in PAN card details’ to proceed further.

Select the option ‘Apply for Change/Correction in PAN

Step 3: Mention the PAN card mode, enter your PAN card number, specify the mode of document submission, and finally press on ‘Submit’.

enter your PAN card number

Step 4: As soon as receive a reference number, click on ‘OK’.

get a reference number, click on ‘OK’

Step 5: Mention the address details and click on ‘Next Step’.

Step 6: Provide the PAN number and again click on ‘Next Step’.

give the PAN number

Step 7: Finally upload the supportive documents and click on ‘Submit’ to allow the document correction time.

upload the supportive documents

click on ‘Submit’

Generally, it takes 15 business days for the mentioned changes to be reflected. You receive the new PAN card via post at your new residential address.

As the procedures for correction of PAN card is now clear to you, it is recommended to verify whether the PAN details are accurate for your close ones. If there is any discrepancy, it is suggested to make changes immediately to avoid trouble later on.

Also, Read: How To Get a Personal Loan On A PAN Card?

Essential Documents for Updating PAN Card Information:

The must-have documents for updating the data on your PAN card are :

  • Copy of PAN card
  • Identity proof
  • Address proof
  • Proof of date of birth

PAN Card Update Fees: Online and Offline Charge:

Making changes to your PAN details offline costs just ₹110. If you’re getting your corrected PAN card shipped outside India, an additional dispatch fee of ₹910 applies.

Going digital? Here’s what you’ll pay:

PAN Card Update Fees: Online and Offline Charge

Also, Read: How To Check Active Loan On PAN Card?

FAQs on Correction of PAN Card

1. How to change PAN card details offline?

You have to first procure or download the PAN card correction form. Then you must duly fill it out, attach the necessary documents and reach with these documents to your nearest PAN centre. After the submission and payment, the centre’s officials hand over an acknowledgment slip.

2. How can I change the name on my PAN card?

To make changes to your name on your PAN card, follow the steps outlined above.

3. How do I check the status of a PAN card change?

Checking the Status of Your PAN Update

  • Visit the NSDL PAN website or the UTIITSL website.
  • Locate the ‘Know Status of PAN Application‘ or ‘Track PAN Card’ option and click on it.
  • Enter your 15-digit ‘Acknowledgement Number’ and the displayed captcha code.
  • Click on the ‘Submit’ button, and the status of your PAN card change application will be displayed on the screen.

4. How can I download my updated PAN card?

Here’s the deal:

  • Go to the NSDL PAN or UTIITSLwebsite.
  • Find ‘Download e-PAN/ e-PAN XML’.
  • Fill in your PAN number, birth date, GSTIN (if needed), and Captcha, then click ‘Submit’.
  • Your e-PAN will download instantly or arrive via email for you to download hassle-free

5. What documents can be used to provide verification of PAN?

As evidence of PAN, you may submit any of the following documents:

  • PAN card photocopy
  • a copy of the PAN allocation letter

6. Can I have many PAN cards?

No, an individual may not have more than one PAN. If you already have a PAN, you cannot apply for another one. When you have more than one PAN, a penalty of Rs. 10,000 might be imposed under Section 272B of the Income-tax Act, 1961. As a result, if you have been assigned more than one PAN, you must immediately relinquish the extra PAN card.

 

I Need ₹5000 Rupees Loan Urgently: Quick Guide

Imagine your phone stops working without warning one day and you are left with no choice but to get a new one. You peek into your bank account and you realize there isn’t enough wiggle room to get a new phone without creating a dent in your budget for the month.

A financial boost in the form of a small-ticket loan of INR 5,000 can help you tide over this rough phase but you realize that there is a possibility that the credit door may be locked and no one may respond in time.

For many Indians, availing of a loan can entail a twisted path. The traditional banking system in India often falls short of addressing such immediate financial needs. The lengthy application process, stringent eligibility criteria, and the requirement of collateral make it difficult for individuals to obtain small loans quickly.

personal loan

The quintessential “chicken and egg” situation wherein many people are unable to get credit cards because of a lack of credit history adds to the problem. Since these are primarily borrowers with no credit history, lenders are wary of snowballing non-performing assets (NPAs).

This is particularly true for those who work in the informal sector. Traditional banks and financial institutions often turn a blind eye to their needs, leaving them in a perpetual credit desert.

Without the availability of quick loans, people often resort to alternative sources of credit, such as informal moneylenders or payday loans with exorbitant interest rates. These options not only deepen the borrower’s debt but also expose them to potential exploitation and harassment.

Purpose of  Rs. 5,000 Instant Loan

1. Financial Lifelines: These loans serve as immediate financial support for unexpected expenses or for moments when you wish to indulge yourself or your loved ones without straining your budget.

2. Emergency Support: They provide a financial cushion during times of sudden monetary need, eliminating the stress of sourcing funds quickly.

3. Minimal Documentation: One of the key advantages is the ease of access, requiring far fewer documents and checks compared to traditional loans, facilitating a faster approval process.

4. Credit Building: For individuals without a credit history, these small loans are an excellent starting point to build credit. They present a low-risk avenue for establishing and improving one’s credit score through responsible borrowing.

5. Empowerment and Flexibility: Beyond monetary assistance, these loans symbolize empowerment by offering the flexibility to manage unforeseen financial challenges without undue stress.

6. Diverse Use Cases: Whether it’s an unexpected travel need, vehicle repairs, a downturn in business, or a medical emergency not covered by insurance, a Rs 5,000 loan can be a practical solution to manage such situations.

7. Alternatives to High-Interest Debt: Compared to the high interest associated with credit card debt, these loans offer a more affordable and structured repayment plan, helping avoid the pitfalls of escalating debt.

8. Streamlined Processes: The efficiency and speed of obtaining these loans, thanks to simplified procedures and minimal paperwork, ensure you can secure funds swiftly, often within minutes.

9. Responsible Lending: Platforms like Credmudra exemplify this approach by connecting borrowers with suitable lenders, ensuring transparency, and promoting responsible borrowing practices without any service fees.

Also, Read: I Need 50000 Rupees Loan Urgently

Interest Rates On Rs. 5,000 Urgent Loan

The interest rate on personal loans varies from lender to lender and depends on various factors like the loan amount, tenure, credit score, etc. It is important to compare the interest rates offered by different lenders before availing of the loan. The following table has details about the interest rates charged by a few eminent banks and financial institutions.

Lending InstitutionApplicable Rate of Interest
Axis Bank10.49% – 22.0% per annum
IDFC FIRST Bank10.49% – 36.0% per annum
HDFC Bank10.50% – 24.0% per annum
ICICI Bank10.75% – 19.0% per annum
Bajaj Finance10.99% per annum onward
Kotak Mahindra Bank11.0% – 39.0% per annum
mPokket0% – 48.0% per annum
MoneyTap1.08% per month onward
CASHe2.50% per month

Also, Read: I Need 30,000 Rupees Loan Urgently In a Day

Eligibility Criteria For 5000 Instant Loans

Before starting the credit application process you should know that the eligibility requirements for salaried and self-employed people are somewhat different.

Eligibility Criteria for Salaried Persons

If you are a salaried individual, you need to tick the following checkboxes to get instant approval for your credit application. These are as follows:

Nationality: Indian

Age Range: Between 21 years and 80 years

CIBIL Score: Above 685

Employment Status: Must be an employee of an MNC, private or a public limited company.

It is important to note that the eligibility criteria of salaried individuals can vary with the lender that you select for availing a personal loan.

Eligibility Criteria for Self-Employed Persons

If you are a self-employed individual, you need to fulfil the following criteria:

Nationality: Indian

Age Range: Between 24 years and 70 years

CIBIL Score: 685 or Above

Business Vintage: A minimum of 3 years

In this case, too, the eligibility criteria depend on the lender.

Also, Read: I Need a 3000 Rupees Loan Urgently

Factors Affecting Eligibility for ₹5000 instant loan

1. Credit History:

  • Timely repayments and a positive credit history boost your eligibility.
  • Defaults and outstanding debts can negatively impact your credit score.

2. Income Stability:

  • Lenders will assess your capacity as a borrower to repay based on a steady income.
  • A stable income source contributes to a higher eligibility score.

3. Employment Factors:

  • Job stability and a consistent employment history can increase your chances of loan approval. The nature of employment, such as permanent or contractual, also influences eligibility.

Improving Loan Eligibility Score for 5000 Instant Loan:

  • Ensure prompt repayment of existing loans and credit card bills.
  • Efforts to lower outstanding debts can positively impact your eligibility score.
  • Maintain a steady income source to enhance loan eligibility.
  • Limit the number of loan applications to prevent a negative impact on the eligibility score.

Documents Required For Availing an Instant Personal Loan Of Rs. 5,000

To apply for a personal loan of Rs 5000, you need to submit the following documents:

1. ID proof (Aadhar card, PAN card, etc.)
2. Address proof (Electricity bill, Phone bill, etc.)
3. Income proof (Salary slip, bank statement, etc.)
4. Passport size photograph

How To Calculate Your EMI For INR 5,000 Instant Loan?

Personal loan interest rates are usually higher than the other types of credit facilities as they fall under the “unsecured loan” header. You can use Credmudra’s personal loan EMI calculator to find the monthly instalments that you would have to pay against your loan of INR 5,000. All you have to do is enter the loan amount, the interest rate and the preferred tenure of repayment. The loan calculator provides accurate results instantly and it can come in handy when comparing different lenders and their interest rates.

How To Avail A Urgent Loan Of INR 5,000 In Minutes?

Borrowing Rs.5000 promptly can be conveniently achieved by turning to fintech companies for online loan services. These digital lenders decide on loan approval by evaluating your income and CIBIL score.

Curious about the process? Here are the basic steps you can follow:

Step 1: Research and Select a Platform:

  • Look for reputable digital lending platforms or mobile apps that offer small, short-term loans.
  • Compare interest rates, processing fees, repayment terms, and customer reviews to choose the best option.

Step 2: Download the App or Visit the Website:

  • Once you’ve selected a platform, download their app from the App Store or Google Play or visit their website.

Step 3: Register/Sign Up:

  • Create an account by providing your email address, phone number, and any other required information.
  • Verify your account through a verification link sent to your email or an OTP sent to your mobile.

Step 4: Fill Out the Application Form:

  • Complete the loan application form with accurate details. This typically includes personal information, employment details, and income information.

Step 5: Submit Required Documents:

  • Upload digital copies of the necessary documents. This usually includes identity proof (Aadhaar card/PAN card), address proof, and bank statements or salary slips.

Step 6: Loan Approval Process:

  • The platform will assess your application and creditworthiness using algorithms. This process is usually quick, taking anywhere from a few minutes to a few hours.

Step 7: Accept the Loan Offer:

  • Once approved, review the loan offer, including the loan amount, interest rate, tenure, and repayment schedule.

Step 8: Disbursement:

  • Upon acceptance, the loan amount is usually disbursed directly to your bank account. The time taken can vary from a few minutes to a few hours, depending on the platform.

In the steps mentioned above, you provide essential information to the lender, like your name, PAN number, employment status, income details, desired loan amount, and repayment duration.

The lender authenticates your details and evaluates your capacity to repay the loan. If you meet the eligibility criteria, the loan will be approved, and the sanctioned amount will be deposited into your bank account.

With Credmudra, you can find lenders that fit your needs, following which you can submit your documents and avail of financial assistance of INR 5,000 in a jiffy.

Also Read: I Need 1000 Rupees Loan Urgently

Why Credmudra?

Credmudra utilizes advanced analytics and machine learning apparatus to facilitate inclusive lending. By going beyond traditional metrics and incorporating diverse data, Credmudra creates customized credit profiles for individuals.

With Credmudra you can avail of personal loans in the range of INR 10,000 – 10 lakhs. Here are some of the key features:

1. Reliable Matching Algorithm: Well, compatibility is not just important in the world of matchmaking but in the world of loans too. Credmudra’s algorithm matches borrowers with compatible lenders to increase the likelihood of approval of credit applications.

2. Knowledge Hub on Finances: Credmudra equips users with insights on credit behavior and the art of financial planning. You cannot have a fruitful financial journey without learning the ropes of personal finance.

3. Inquiry Solutions Hub: A dedicated space that deals with user questions regarding lending procedures and financial terminology.

4. User Feedback and Community Reviews: Credmudra’s community lets you glean useful insights from the experiences of fellow users.

5. Speedy Fund Transfer System: Guarantees timely disbursement of funds to address pressing financial requirements.

6. Cost-Free Top Loan Deals: You do not have to worry about burning a hole in one pocket to get a small-ticket loan in your other pocket – Credmudra delivers personalized loan proposals without charging users any fees.

Say goodbye to the hassle of chasing lenders for a personal loan; Credmudra is here to turn your instant loan requirements into a reality. Visit Credmudra today and apply for a quick personal loan from trustworthy vendors.

Also Read: I Need 2000 Rupees Loan Urgently

FAQs

1. How does Credmudra find the Right Lender for you?

All you have to do is fill up the personal loan application form available on our website, where you specify your requirements. Credmudra accordingly matches you with lenders whose products are aligned with your needs.

2. What if you do not have Income Proof?

Several lenders would be willing to greenlight your loan request even in the absence of income proof. In such cases, you can furnish alternative income streams, maintain a strong CIBIL score, and consider having a co-applicant or guarantor.

3. How can you Check if you are Eligible for a Personal loan?

You can easily ascertain the credit amount you qualify for by employing a personal loan eligibility calculator. You need to enter the requisite details in the calculator and it will calculate the loan amount you can apply for. These calculators are user-friendly and provide precise results.

4. What can you do with a Personal Loan?

You have the flexibility to allocate these funds for various purposes such as weddings, vacations, festival celebrations, medical needs, education expenses, and more. They can also double up as financial resources during exigencies such as a job loss or a downfall in income.

5. What Documents should you Provide for Availing a Personal Loan?

You will need KYC documents, an employee ID card, bank statements, and salary slips if you are a salaried individual. If you are self-employed, you will have to provide proof of business in addition to other documents.

 

How to Apply for New Aadhar Card Online

What is an Aadhar Card?

The Aadhar card is a unique identification document issued by the Unique Identification Authority of India (UIDAI) to residents of India. It contains a 12-digit unique identification number known as the Aadhar number, which serves as proof of identity and address anywhere in the country.

One of the primary purposes of the Aadhar card is to provide a universal identity to Indian residents, facilitating smoother access to various government and non-government services. It consolidates multiple identification documents into a single card, simplifying identity verification processes.

The Aadhar card contains biometric and demographic information, including fingerprints, iris scans, name, date of birth, gender, address, and a photograph of the cardholder. This comprehensive data makes it a secure and reliable form of identification.

personal loan

Uses of Aadhar Card

Availing Government Schemes: The Aadhar card is often necessary for accessing various government welfare schemes, subsidies, and benefits directly linked to the cardholder’s bank account.

Financial Transactions: It is widely used for opening bank accounts, applying for loans, and for various financial transactions requiring identity verification.

Mobile SIM Card Activation: The Aadhar card is often required for verification when activating new mobile phone connections.

Tax Filing: Aadhar serves as a valid identification document for filing income tax returns and linking with PAN cards.

Identity Verification: It is widely accepted as proof of identity and address for different purposes, including hotel check-ins, government examinations, and more.

The Aadhar card’s versatility and widespread acceptance make it an essential document for Indian residents, simplifying various administrative processes and ensuring more streamlined access to services.

Applying for an Aadhar card online is a simple and convenient process that offers a unique identification number to Indian residents. In this read, we’ll walk you through the step-by-step process, required documents, eligibility criteria, and common FAQs to make the application seamless.

Also, Read: Apply for a Rs. 50,000 loan on an Aadhaar Card

Essential Documents for Aadhar Card Application: Required IDs and Proof

To apply for an Aadhar card, ensure you have essential documents like proof of identity, address, and date of birth. Commonly accepted documents include a passport, PAN card, voter ID, and more. Gathering these documents beforehand ensures a smooth application process. So let us look at the detailed documents list:

NumberProof of Identity Documents
1Passport
2PAN card
3Voter ID
4Driving License
5Kisan Photo Passbook
6Arms License
7Photo ID issued by a recognized educational institution
8CGHS/ECHS Photo Card
9Ration/ PDS Photo Card
10NREGS Job card
NumberProof of Date of Birth Documents 
1Birth Certificate 
2Mark sheet/Certificate
3Passport
4SSLC Book/ Certificate
5Photo ID card having a DOB, issued by a recognized educational institution
6Extract of school records issued by Head of school containing name, date of birth, and photo
7Pension payment order
8School leaving certificate(SLC)/ School transfer certificate(TC) having name and date of birth
9Central Government Health Service Scheme Photo Card or Ex-Servicemen Contributory Health Scheme Photo Identity card
10Government Photo ID card or Photo Identity Proof or PSU-issued ID card that contains Date of birth
NumberAddress Documents for proof
1Voter ID
2Bank Statement/Passbook
3Kisan Passbook
4Ration Card
5Driving License
6Passport
7NREGS Job Card

Steps for Online Aadhar Card Application Made Simple:

Step 1: Visit the link  Official UIDAI Website and tap “book an appointment” to kick-start the process.

Visit the link  UIDAI Website

Step 2: Choose your city/location and hit “Proceed to Book Appointment” for the nearest available option.

Choose your city/location

Proceed to Book Appointment

Step 3: Opt for “new enrollment,” input your mobile number, tackle the captcha, and tap “send OTP.” Enter the received OTP to proceed.

Step 4: Accurately fill in all the required details in the provided columns and click “next.”

Step 5: Select a convenient date and time for your appointment, then click “next” to move forward.

Step 6: Review the entered information, make edits if necessary, and click “Submit” to confirm.

Congratulations! You’ve successfully enrolled for your new Aadhaar card. Await confirmation on your mobile soon.

Eligibility for Applying for an Aadhar Card

Aadhar cards are available for all Indian residents, regardless of age or gender. Even newborns and children can apply, provided their parents or guardians have the necessary documents. There are no specific eligibility criteria besides being an Indian resident.

Applying for an Aadhar card online streamlines the process and saves time. Once you’ve submitted your application, you can track its status online and download your e-Aadhar card once it’s generated. If you’re looking to explore loan options using your Aadhar card, dive into our blog for insightful information.

Remember, your Aadhar card is not just an identity proof but a gateway to a range of services and opportunities.

FAQs:

1. Is it possible to apply for an Aadhaar card entirely online without visiting an enrollement center?

No, unfortunately, the complete process requires a visit to an enrollment center for biometric data collection.

2. Is it permissible to apply for multiple aadhaar cards?

No, holding or applying for more than one Aadhaar card is considered an offense under Aadhaar regulations.

3. Is it possible to reschedule or cancel my Aadhaar enrollment appointment online?

Yes, you have the option to reschedule or cancel your appointment for Aadhaar enrollment through the online portal.

4. Is it necessary to furnish a mobile number during the Aadhaar card application process?

Yes, providing a mobile number is mandatory for the Aadhaar card application.

5. Are a child’s biometrics mandatory for an Aadhaar card?

For children below 5 years, biometrics aren’t required during the Aadhaar application process.

Also, Read: How To Get A 10000 Loan On Aadhaar Card?

 

How to Apply for a PAN Card Online and Offline In 2024

Understanding PAN Card:

The Permanent Account Number (PAN) card is a unique identification number issued by the Income Tax Department in India. It serves as a crucial document for financial transactions, tax-related purposes, and as a proof of identity. Let’s delve into the process of applying for a PAN card, both online and offline, and the required documents. Applying for your PAN card online is a breeze, offering you two convenient portals:

  1. NSDL
  2. UTIITSL

personal loan

These user-friendly platforms simplify the process, allowing you to kickstart your application in just a few easy steps. Let’s dive into the process by visiting either the NSDL or UTIITSL official websites and selecting the appropriate form based on your citizenship status: Form 49A for Indian citizens or Form 49AA for non-Indian citizens. Here’s a step-by-step guide to get you started on your PAN application journey:

Effortless PAN Card Application: Step-by-Step Guide via NSDL Portal

Step 1: Visit the NSDL website Open the official NSDL website

NSDL Step 2: Choose the Application Type and Form Click on “Application Type” on the left side of the page.

NSDL Step 3: Fill in Personal Information

  • Choose your title (Mr., Ms., etc.)
  • Enter your last name, first name, and middle name (if applicable).
  • Select your date of birth in the format DD/MM/YY.
  • Provide your current email address and mobile number

NSDL Step 4: Review and Submit Application

  • Tick the box to confirm you have read the guidelines.
  • Enter the CAPTCHA code displayed on the screen.
  • Click “Submit”.

Step 5: Pay Application Fee Pay the application fee of Rs. 93 using one of the available methods: credit card, debit card, net banking, check, or DD.

Step 6: Print Acknowledgment and Sign After successful payment, you will receive an acknowledgment number page. Take a printout and keep it for future reference.

Step 7: Affix Photo and Mail Documents Affix a passport-sized photograph on the acknowledgment paper. Sign the acknowledgment paper with a black pen. Mail the signed acknowledgment paper along with your supporting documents (proof of address, identity) to the Income Tax Department within 15 days of online application. The address will be mentioned on the acknowledgment paper.

Step 8: Receive PAN Card Once your documents are validated, your PAN card number will be sent to your registered email address and mobile number. You will receive the physical card within 15-20 working days.

Also, Read: What is PAN Card: Eligibility, Type & How to Apply

Applying for a PAN Card through UTIITSL: A Step-by-Step Guide

Step 1: Visit the UTIITSL website

Open the UTIITSL official website

applying for pan card through UTIITSL Step 2: Choose the PAN Card Option

Navigate to the homepage and click on the “For PAN Cards” option in the top menu bar.

UTIITSL Step 3: Select Application Type

On the “PAN Services” page, click on “Apply PAN Card.” Next, choose either “PAN Card as an Indian Citizen” or “PAN Card as a Foreign Citizen” from the list of options.

Select Application Type Step 4: Choose the Application Form and Mode

Click on the option that best describes your citizenship, then select “Apply for a New PAN Card (Form 49A)” if you’re applying for the first time. You can also choose “Regenerate Online PAN Application (Form 49A)” if you previously applied online but haven’t submitted documents, or “Download Blank PAN Form 49A” to fill it out manually.

Choose the Application Form and Mode Step 5: Select Application Mode and Fill Form

Choose “Digital Mode” and proceed to fill in the application form. This will include details like your applicant status, preferred PAN card mode (plastic or paper), personal information, contact details, and father’s/mother’s/spouse’s name (if applicable).

Select Application Mode and Fill Form Step 6: Review and Submit Application

Carefully review all the information you entered and ensure it’s accurate. Once satisfied, click “Submit” to proceed.

Step 7: Make Payment

On the next screen, complete the payment for your PAN card using your preferred method: DD, cheque, internet banking, credit card, or debit card. The processing fee for Indian citizens is Rs. 93.

Step 8: Download and Print the Acknowledgment.

After successful payment, you’ll receive a soft copy of an acknowledgment paper on the screen. Download and print this document.

Step 9: Affix Photo and Sign Acknowledgement

Paste your passport-sized photograph on the printed acknowledgment paper and sign it with a black pen in the designated space.

Step 10: Send Documents to the Income Tax Department

Within 15 days of submitting the online application, package the signed acknowledgment receipt along with copies of your identity and residence proofs (as specified on the NSDL website) and send them to the Income Tax Department address mentioned on the acknowledgment paper.

Step 11: Receive PAN Card

Once your documents are verified, your PAN number will be sent to your registered mobile number and email address. You can then track the dispatch of your physical PAN card on the NSDL website using the acknowledgment number.

Additional Tips:

  • Keep copies of all documents you submit for your records.
  • Double-check all information before submitting your application.

Why Apply Online for a PAN Card?

Applying online for your PAN card offers unmatched convenience. The NSDL and UTIITSL portals streamline the process, saving you time and effort. Plus, the user-friendly interfaces make it accessible for everyone, ensuring a hassle-free experience. Remember, accurate information and the submission of required documents play a crucial role in expediting the application process. Once submitted, you can track the status of your application online using the provided acknowledgment number.

Also, Read: How To Get a Personal Loan On A PAN Card?

How to Check PAN Card Application Status

Here are the detailed steps to check the status of a PAN (Permanent Account Number) card application in India:

Method 1: Check PAN Card Status Online

1. Visit the NSDL or UTIITSL website: – NSDL (National Securities Depository Limited) or UTIITSL (UTI Infrastructure Technology and Services Limited) are two authorized websites to track PAN card status in India.

 – NSDL:

 

 

UTIITSL

UTIITSL 2. Select the Application Type:

– Choose the appropriate application type: ‘New PAN – Indian Citizen (Form 49A)’ or ‘New PAN

– Foreign Citizen (Form 49AA)’.

3. Enter the Application Acknowledgment Number:

– You’ll need the 15-digit acknowledgment number provided at the time of application submission. Enter it in the designated field.

4. Enter Captcha or Security Code:

– Input the characters shown in the image for security verification.

5. Click on ‘Submit’ or ‘Track Status’:

– After entering the details, click on the submit button to check the PAN card application status.

6. View Application Status:

– The system will display the current status of your PAN card application.

– The status might indicate stages like ‘Application Received’, ‘Under Process’, ‘Dispatched’, etc.

Method 2: Check PAN Card Status via SMS

1. Compose a New SMS:

– Create a new message on your phone.

2. Type the Appropriate Format:

– For NSDL: Type ‘NSDLPAN Acknowledgment Number’ and send it to 57575.

– For UTIITSL: Type ‘UTIPAN Acknowledgment Number’ and send it to 7738299899.

Replace ‘Acknowledgment Number’ with your actual 15-digit acknowledgment number provided during application submission.

3. Send the SMS:

– Once you’ve entered the correct format with your acknowledgment number, send the message.

4. Receive Status via SMS:

– You’ll receive an SMS with the current status of your PAN card application.

Method 3: Check PAN Card Status via Phone Call

1. Contact the PAN Helpline:

– For NSDL: Call their helpline at 020-27218080.

– For UTIITSL: Call their helpline at 1800220306 or 022-67931300.

2. Provide Necessary Details:

– Follow the instructions and provide the requested details like your acknowledgment number, date of birth, or other information as requested.

3. Inquire About Application Status:

– Ask the representative about the status of your PAN card application.

Following these steps through the online portal, via SMS, or by making a phone call will help you check the current status of your PAN card application in India.

Also, Read: How to Apply for Pan Card Correction Online?

apply personal loan on credmudra

How to Track PAN Card Delivery Status

Here’s a guide on tracking the delivery status of your PAN (Permanent Account Number) card in India:

Method 1: Tracking PAN Card Delivery Online

1. Visit the Official Courier Partner Website:

– PAN cards are usually dispatched through courier services like India Post, Blue Dart, or others.

– Check the dispatch details provided by NSDL or UTIITSL, which will mention the courier partner’s name.

2. Go to the Courier Service Website:

– Visit the official website of the courier service used for PAN card delivery. For instance:

1. India Post:

G202. Blue Dart:

 

3. Locate the ‘Track Shipment’ Section:

– Look for a section or tab labeled ‘Track Shipment’ or ‘Track Consignment’ on the courier service website’s homepage.

4. Enter the Tracking Number:

– Find the tracking number provided by the PAN card authority (NSDL or UTIITSL) for your PAN card delivery.

– Input this tracking number in the designated field on the courier service’s website.

5. Initiate Tracking:

– Click on the ‘Track’ or ‘Submit’ button to initiate the tracking process.

6. View Delivery Status:

– The courier service’s website will display the current status of your PAN card delivery.

– You can check if it’s ‘Out for Delivery’, ‘In Transit’, or ‘Delivered’ based on the latest update.

Method 2: Contacting Courier Customer Service

1. Find Courier Service Contact Information:

– Locate the customer service contact details on the courier service’s website or on your PAN card application receipt.

2. Call Customer Service:

– Dial the customer service number provided by the courier service handling your PAN card delivery.

3. Provide Shipment Details:

– Communicate with the customer service representative.

– Provide the PAN card tracking number or any other details requested by the representative.

4. Inquire About Delivery Status:

– Ask the representative about the current status of your PAN card delivery.

Method 3: Contacting NSDL or UTIITSL

1. Reach Out to PAN Card Issuing Authority:

– If you’re unable to track your PAN card through the courier service or facing issues, contact NSDL or UTIITSL directly.

2. NSDL Contact Information:

– Phone: 020-27218080

– Email: [email protected]

3. UTIITSL Contact Information:

– Phone: 1800220306 or 022-67931300

– Email: [email protected]

4. Provide Application Details:

– Explain your situation and provide the PAN card application details such as acknowledgment number, applicant name, and other required information.

5. Request Assistance for Delivery Status:

– Request assistance or clarification regarding the delivery status of your PAN card.

Using these methods, either through the courier service’s online tracking, contacting their customer service, or reaching out to NSDL or UTIITSL directly, you can track the delivery status of your PAN card in India.

How to Apply for a PAN Card Offline?

Applying for PAN Card Offline:

Step 1: Obtain Form 49A:

Download the ‘Form 49A’ from the NSDL e-Gov website to begin the process.

Step 2: Fill in the Details:

Carefully fill in all the necessary details in the application form.

Step 3: Attach Signature and Photograph:

Affix your signature and a recent photograph to complete the application.

Step 4: Submission of Form and Documents:

Submit the filled form along with the required documents at the nearest PAN center.

Step 5: Payment of Fees: Pay the applicable fees for your PAN card application.

Step 6: Acknowledgement and Tracking:

Receive an acknowledgement number for tracking your application status.

Once your documents are verified, anticipate receiving your PAN card within approximately 15 days. This method ensures a straightforward process for obtaining your PAN card offline.

FAQs:

1. Is the Instant PAN Card Universally Valid?

Absolutely. The e-PAN serves as a valid proof of PAN, equipped with a QR code containing essential demographic details of the applicant, including their name, date of birth, and photograph.

2. Is it Possible to Apply for a PAN Card at the Age of 16?

According to Section 160 of the Income Tax Act, there isn’t a minimum age requirement specified for PAN card applications.

3. Can a Student Apply for a PAN Card?

A student can only apply for a PAN card once they reach the age of 18. In the case of minors, their parents or guardians can apply for a PAN card on their behalf.

4. How much time does it take to get a PAN Card Offline??

When you opt for the convenience of applying for a PAN card online, the processing time tends to be quicker. Typically, you can eagerly anticipate receiving your PAN card within a span of 15 days after submitting your application. Yet, if you choose the offline route for application, the processing duration extends to about 30 days.

5. How much do I need to Pay for a PAN Card?

The fees for a PAN card depend on the application type.

Application typeFees
Online101 INR for Indians, and INR 1011 for foreign citizens
OfflineINR 107 for Indians, INR 1017 for foreign citizen

 

Also, Read: 10000 Loan Without a PAN Card in Few Clicks

Apply loan from credmudra

How To Get a Personal Loan On A PAN Card?

In today’s fast-paced world, financial emergencies can arise at any time. when finances run dry, seeking help from relatives or friends for rent, overdue bills, groceries, or unexpected trip expenses can bring guilt. Whether it’s an unexpected medical expense, a sudden home repair, or consolidating debt, a personal loan can provide much-needed relief. And if you have a PAN card, you’re already halfway there to securing one.

personal loan

What is a PAN Card?

A Permanent Account Number (PAN) is a ten-digit alphanumeric identifier issued by the Income Tax Department of India. It’s essentially your financial identity card and is mandatory for various financial transactions, including applying for a personal loan.

Why is a PAN Card Important for Personal Loans?

A PAN card plays a crucial role in the personal loan application process due to several reasons:

1. Identity Verification: Your PAN card serves as a reliable proof of identity, helping lenders verify your authenticity and prevent fraud.

2. Creditworthiness Assessment: Lenders utilize your PAN card to access your credit history, which is a key factor in determining loan eligibility and interest rates.

3. Compliance with Regulations: The Income Tax Department mandates the use of PAN cards for various financial transactions, including personal loans, to streamline tax collection and prevent tax evasion.

Advantages of Using a PAN Card for a Personal Loan

Using a PAN card for a personal loan offers several advantages, including:

1. Ease of use: PAN cards are widely accepted as a form of identification, making the loan application process easier.
2. Minimal documentation: You typically need fewer documents with a PAN card loan.
3. No collateral: Personal loans are unsecured, so you don’t need to put up collateral.
4. Attractive interest rates: PAN card loans often offer competitive interest rates.
5. Fast disbursement: You can get your loan disbursed quickly.

PAN card loans have emerged as a popular option for individuals seeking quick and convenient access to funds. However, before taking this loan, it is crucial to understand the eligibility criteria that govern the accessibility of these loans.

Eligibility Criteria for a Personal Loan on PAN Card

To be eligible for a personal loan on a PAN card, you must meet specific criteria:

1. Age: You must be between 21 and 65 years of age.

2. Citizenship: You must be an Indian citizen or a resident of India.

3. Income: You must have a stable monthly income of at least Rs. 15,000 for salaried individuals or Rs. 25,000 for self-employed individuals.

4. Employment Status: You must be either a salaried employee with a minimum of six months’ service or a self-employed individual with a minimum of two years’ business experience.

5. Credit Score: You must maintain a good credit score, typically 650 or above, to increase your chances of loan approval and secure favorable interest rates.

Also Read: How to Apply for Pan Card Correction Online?

Documents Required for a Personal Loan on PAN Card

Along with your PAN card, you’ll need to provide additional documents to support your loan application:

1. Identity Proof: Aadhaar card, passport, driving license, or voter’s ID card

2. Address Proof: Aadhaar card, passport, driving license, or voter’s ID card

3. Income Proof: Salary slips for salaried individuals or income tax returns for self-employed individuals.

4. Bank Statements: Copies of bank statements for the previous three months

5. Employer Details: Employer’s name, address, and contact information

Steps to Apply for a Personal Loan on a PAN Card

1. Compare Lenders and Loan Options: Research and compare personal loan offerings from different lenders, considering factors like interest rates, processing fees, loan tenure, and eligibility criteria.

2. Check Your Eligibility: Use online eligibility calculators to assess your chances of loan approval and estimate the potential loan amount and interest rate.

3. Fill Out the Loan Application: Visit the lender’s website or branch and complete the loan application form, providing accurate and complete personal and financial information.

4. Submit Documents: Attach copies of the required documents mentioned above along with your PAN card.

5. Verification Process: The lender will verify your submitted documents and conduct a credit check to assess your creditworthiness.

6. Loan Approval and Disbursement: Upon successful verification and approval, the lender will disburse the loan amount into your bank account.

Navigating the loan approval process can be a bit tricky. So we have some practical tips to help you make smart moves and increase your chances of getting your loan approved.

Calculate Your Personal Loan EMI

Tips for Securing a Personal Loan on a PAN Card

1. Maintain a Good Credit Score: Regularly check your credit report and address any discrepancies or errors promptly.

2. Control Debt Utilization: Keep your credit utilization ratio, the percentage of your available credit that you’re using, below 30%.

3. Choose the Right Loan Amount: Borrow only the amount you genuinely need and can comfortably repay.

4. Negotiate Interest Rates: Don’t hesitate to negotiate interest rates with the lender, especially if you have a good credit history.

5. Repay on Time: Make timely repayments to maintain a good credit history and avoid late payment penalties.

A personal loan on a PAN card can be a valuable financial tool to meet your unexpected expenses. By following the guidelines and tips mentioned above, you can increase your chances of securing a personal loan on a PAN card and manage your finances effectively. If you are looking for a personal loan, Credmudra offers swift, pre-approved personal loans through licensed lending partners. Enjoy a paperless process, competitive rates, and full control with transparent details.

Also Read: Check PAN Card Application Status Online: NSDL and UTIITSL Portal

FAQs:

Here are some common questions about PAN card loans:

1. How Much Loan can I get on my PAN Card?

The amount of money you can borrow with a PAN card loan depends on your creditworthiness, income, and the lender. In general, you could get up to ₹20 Lakh.

2. How much CIBIL Score do I need to get a Loan?

You’ll need a minimum credit score of 650 to qualify for a personal loan.

3. How much Loan can I get on ₹15,000 Salary?

If you earn ₹15,000 per month, you could be eligible for a loan of ₹50,000 to ₹1,50,000. However, the amount may vary depending on the lender.

4. Can I get a Personal Loan without a PAN Card?

Yes, you can get a personal loan without a PAN card. However, you may need to provide additional KYC documents for verification.

5. Can I Get a loan on my Aadhar card?

Yes, many Indian banks accept Aadhaar as a valid identification for loans. However, the requirements may vary depending on the lender and the type of loan.

Also, Read: 10000 Loan Without a PAN Card in Few Clicks

 

What is PAN Card: Eligibility, Type & How to Apply

Ever stumbled upon a “PAN card” while filing taxes or opening a bank account? Felt a pang of confusion, wondering what exactly it is and why you need it? Worry not! This blog will help you navigate what is PAN card, and why you need one.

personal loan

What is a PAN Card?

Issued by the Income Tax Department, a PAN card is a unique 10-digit alphanumeric code assigned to individuals, entities, and businesses. It serves as a universal identification key for tracking financial transactions it’s your personal alphanumeric identifier, the secret code that links all your financial activities – taxes, bank accounts, investments, the whole shebang.

Key Features/Points of PAN Card:

1. Universal Identification: Every PAN card has a unique code, ensuring individual identification for financial transactions and dealings.

2. Mandatory for Financial Transactions: From opening a bank account to filing taxes, a PAN card is crucial for various financial activities.

3. Validity and Permanence: Once allotted, the PAN remains unchanged throughout the holder’s lifetime.

4. Free (mostly): Applying for a PAN card is free, but expedited delivery might cost a bit extra.

Structure of PAN Card:

The PAN Card has a unique 10-character code, and each part holds important details. Here’s a breakdown:

First Five Characters: Always uppercase letters, like ‘AAA XX123 4B’.
First Three Characters: These show where you’re from.
Fourth Character: Tells if it’s for a person or an entity, like a company or government.

  • A: Stands for Association of Persons (AOP).
  • B: Represents Body of Individuals (BOI).
  • C: Indicates a Company.
  • F: Stands for Firm.
  • G: Represents Government.
  • H: Indicates a Hindu Undivided Family (HUF).
  • L: Indicates a Local Authority.
  • J: Stands for Artificial Juridical Person.
  • P: Represents an Individual or a Person.
  • T: Indicates a Trust (AOP).

Fifth Character: For personal cards, it’s often the last name. For others, it can be the organization’s name.
Tenth (Final) Character: An alphabet used for checking the PAN’s correctness, calculated based on other characters.

Types of PAN Card?

There are quite some types of PAN Cards, which are:

1. Individual: An individual PAN card is specifically for a person, like you or me. It’s used to identify individuals for their financial transactions, taxes, and various official purposes. The PAN for individuals usually has the fourth character as ‘P’, indicating it belongs to a person.

2. Hindu Undivided Family (HUF): For those with a joint family.

3. Company/Firm/LLP: For your business ventures, big or small.

4. Trust: For managing those inherited riches or charitable endeavors.

How and Where to Apply for a PAN Card?

Choosing the Application Platform:

Two designated platforms handle PAN card applications:

1. Protean eGov Technologies Limited (Formerly NSDL e-Gov): Accessible through https://www.protean-tinpan.com/

2. UTI Infrastructure Technology Services Limited (UTIITSL): Accessible through https://www.pan.utiitsl.com/newA.html

Also, Read: How to Apply for Pan Card Correction Online?

Selecting the Appropriate Form:

Form 49A: This form caters to individual applicants and Hindu Undivided Families (HUFs).
Specific Forms: For firms, companies, Limited Liability Partnerships (LLPs), and trusts, consult the respective websites for designated forms.

Diligently Completing the Application Form:

Accuracy and comprehensiveness are paramount. Provide the following details meticulously:

1. Personal Information: Name, father’s name, date of birth, and category (individual, HUF, etc.)

2. Contact Information: Phone number and email address

3. Address Information: Permanent and communication addresses with supporting proof documents (Aadhaar card, voter ID, passport, etc.)

4. Photographs: Two recent passport-sized photographs

Settlement of Application Fees:

The application fee varies depending on the chosen delivery method (regular or expedited). Online payment options utilizing debit/credit cards or net banking are readily available.

Form Submission and Tracking:

Once you have verified the information’s accuracy, submit the application online. You will receive an acknowledgment receipt and can track your application’s status through the chosen platform.

Delivery and Collection:

Within a few weeks, your PAN card will be delivered to your registered address. Ensure the safekeeping of your PAN card and treat it as a confidential document.

Additional Considerations:

Double-check all information before submitting the application to avoid delays or processing errors.
Retain the application receipt and acknowledgment for future reference.

Consider linking your Aadhaar card with your PAN for fast-track processing and enhanced convenience.

Also, Read: How to Download e-PAN Card Online from NSDL and UTIITSL

Uses of PAN Card:

1. Tax Purposes: PAN is essential for filing income tax returns and for various tax-related transactions.

2. Financial Transactions: It’s required for opening bank accounts, buying/selling properties, or making large transactions.

3. Identification: PAN serves as an identity proof and is often required in official procedures.

4. Investing in Mutual Funds and Shares: Enables confident forays into the stock market through investments in mutual funds and shares.

5. Preventing Financial Fraud: PAN card functions as a shield against potential financial malpractices, ensuring a secure financial environment for individuals.

The PAN card is more than a mere document; it’s a key element in India’s financial landscape. Its significance in conducting various financial transactions and establishing identity cannot be overstated. Knowing its importance and acquiring one is essential for every individual and entity aiming for a hassle-free financial journey in India.

FAQs:

1. Is it necessary to Link PAN with Aadhaar?

Yes, linking PAN with Aadhaar is mandatory and facilitates easy verification and validation.

2. Can I Apply for a PAN Card if I’m an NRI?

Absolutely, NRIs can apply for a PAN card and it’s beneficial for various financial activities in India.

3. How long does it take to get a PAN Card?

Typically, once you’ve applied, it takes around 15-20 working days to receive your PAN card.

4. Can I have multiple PAN Cards?

No, it’s illegal to possess multiple PAN cards. One person/entity can have only one PAN card.

5. Can I change the details on my PAN Card?

Absolutely! Just update your information with the Income Tax Department.

Also, Read: How to Download e-PAN Card Online from NSDL and UTIITSL

How To Get A Personal Loan On Aadhaar Card?

Remember How Applying For A  Personal Loan Earlier Used To Be A Strenuous And Exhausting Process? 

Most loan seekers would dread the process. Here’s what it would look like: 

  • Visit the respective bank in person, 
  • Stand in queues,
  • Apply for the loan by filling out a form, 
  • Submit innumerable documents for verification, and 
  • Wait for weeks to get approved (or even rejected)! 

Let’s not forget that several roundabout trips to the banks would also be involved: until the loan officials had all the documents needed.  But things have changed now  (thankfully). 

Anyone can apply for personal loans like Aadhaar card loans online and easily lend money from credible lenders from the comfort of their home.  Whether it’s your marriage, the next solo trip, or a medical emergency, receive the required amount of money in your bank account without any hassle using your Aadhaar card – that too from the comfort of your home. Don’t trust what we say? Here’s how you can do so.  

personal loan

Here, we discuss what’s a personal loan on an Aadhaar card, its benefits, and how to apply to help you get it quickly and easily. 

What Is An Aadhaar Card Loan? 

An Aadhaar card loan or personal loan on an Aadhaar card is availing a personal loan by using your Aadhar card as the primary document, from filling in your details to getting sanctioned. For this, you only need your Aadhar card and PAN card linked to your mobile number to apply for the loan. But do you know what makes this loan a hassle-free one? The convenience for lenders and borrowers to complete the loan process smoothly with just one document (Aadhaar card) and no nightmares of multiple bank visits. 

Benefits Of Applying For A  Personal Loan On An Aadhar Card 

Quick Approval 

With only your Aadhaar Card (or UID card), lenders can complete the entire KYC process (a process mandated by the Reserve Bank of India to verify the authenticity of borrowers) as it provides proof of address, proof of identity, and biometric credentials. So, it becomes easy for lenders to verify all the necessary details, confirm you are eligible, and approve your loan application in just a few hours. 

Less Documentation 

Avoid doubting if you have carried all the necessary documents to apply for a personal loan. Submit only your Aadhaar card to complete the loan process from application to approval. While some lenders might also demand a PAN card document, you must also submit income statements to check your credit and CIBIL scores. 

For example, for your debt consolidation loan, opt for: 

  • Seamless loan approval in a few hours
  • Collateral-free credit facility so you do not have to keep your assets as collateral. Instead, you get the required sum with your CIBIL score  

Paperless Application

What if we told you there is a way to process your personal loan in a paperless way? Yes, by using the lender’s website or loan app, submit the scanned copy of the documents required and complete the entire loan process online.  This online way of applying for an Aadhaar loan eliminates the traditional paperwork and demands your signature only in digital form.  When is applying for a personal loan using an Aadhar card the best option? For example, when you find the best deals from online travel portals for your next trip but are not ready financially. The best part, apply for a personal loan for travel and jet set and travel in the next 2-3 days. 

Competitive Interest Rates 

If you have a decent credit score, you can expect competitive interest rates starting from as low as 10.73%. Even when your credit score is low, if your monthly income is higher, lenders offer low interest rates. 

Check out the interest rates on personal loans.

interest rates on personal loans

Worried about whether you can manage your regular bills and loan repayment without compromising the necessary monthly expenses? 

Don’t fret; you can adjust and choose the repayment tenure flexibly. Here’s how: 

  • Pay smaller amounts for a longer period or
  • Pay larger amounts monthly and complete the repayment soon

Choose what suits your financial condition to avoid getting stressed about repayments. 

For instance, if you’re looking for 10000 loan on Aadhaar card for a two-wheeler, you can pay it in 3,6,9, or 12 months, depending on how much you can repay monthly.

Calculate Your Personal Loan EMI

Eligibility Criteria For Aadhar Card Loan 

Depending upon the lender, eligibility criteria might vary slightly, but the following are the common things lenders look for in a loan applicant. 

Age

Your age should be between 21 and 60 years to qualify. 

Citizenship

Indian citizens are the only ones allowed to apply for this loan. 

Work experience

People working in public or private sectors or self-employed people applying for this loan should have at least 1 year of work experience in their relevant field. 

Net income

A minimum monthly salary of INR 15,000/- is required to get sanctioned. 

Credit score

A credit score of 750 or above is mandatory, but lenders now issue loans even when your credit score is low, considering other factors like your monthly income. 

Documents Required To Avail a loan on Aadhaar Card 

Be ready with these documents to let the lender know you’re eligible and process your loan instantly. 

  • ID proof: Aadhar card is more than enough
  • Address proof: Aadhar card/ utility bills like water or gas bill 
  • Income proof: Salary slips and the bank statement for the past six months

Who Provides The Aadhaar Card Loan? 

All banks and Non-Banking Financial Companies (NBFCs) in India fund this Aadhar card personal loan to eligible citizens.

Step-by-Step Process To Apply For A Personal Loan On An Aadhaar Card

Considering its benefits, let’s say you’ve decided to take a personal loan using your Aadhaar card. Here is the step-by-step process that you need to follow. 

1. Choose And Finalize The Lender

  • You cannot borrow money from a random lender without checking certain details. Before finalizing that you will take an Aadhaar loan from that lender, here are five things you should confirm. 

2. Quick Disbursal

  • Check if the lender offers a quick disbursal so that you can manage the unplanned financial need efficiently. An Aadhar loan is the quickest loan, as lenders will easily verify using your Aadhar card and process e-KYC.
  • It shouldn’t take you more than two days to complete the process. For instance, Credmudra offers same-day disbursal to people seeking instant financial assistance.

3. Option To Customize Your Loan

  • When it comes to personal loans, the one-size-fits-all approach doesn’t work. If you need INR 75,000/- and the lender offers only a fixed amount like INR 50000/- or 1 Lakh, then it would not be easy to manage the situation or repay the loan. 
  • The best option? Look for lenders who allow you to tailor your loan, from choosing the loan amount to repayment tenure. 

4. Easy Online Application

  • Don’t compromise important office meetings or spending time with your loved ones to visit lending institutions during their office hours to apply for this loan. Ensure that the lender provides an option to complete the application process through their website or mobile application. 

5. Safe and Secure Process

  • With many institutions offering different financial services online, scammers are also increasing. Before availing the personal loan, check the lender’s credibility.  Choose a lender that follows standard and necessary security protocols to avoid fraudulent activities with your highly sensitive bank details and financial data.

6. Transparency 

  • The lender should carry out a transparent process throughout. Which means you shouldn’t be charged unnecessarily without your knowledge. Don’t get scammed, and check the additional charges the platform takes to process the Aadhaar card loan.  Still confused in choosing between the different types of lenders?
  • Use Credmudra’s loan matchmaker to analyze your profile and match you with the suitable lender with the highest chances of approving your loan.

Also, Read: How to Get Rs. 2 lakh Personal Loan on Aadhaar Card?

Choose From Different Types Of Loans

Depending upon the reason, whatever it may be, choose from different types of personal loans that the lender offers.  For example, Credmudra offers personal loans for various reasons, including travel, debt consolidation, home renovation, and medical emergencies. 

Online Application

Apply for this personal loan effortlessly just by relaxing on the couch at your home. Just fill in the details you’re asked for, and Credmudra will match you with the lender and fund you the loan amount.

1. Log in to the official website of Credmudra and choose the type of personal loan from the options. 

2. Submit your phone number, and you will receive a 6-digit OTP. Enter the password to go to the next step.

how to get loan on aadhar card3. Enter the amount you’re expecting, tenure, email address, and your PAN number.

how to get loan on aadhar card

4. Select the box according to your profession.                                                                                                                                                                                                                                                                               how to get loan on aadhar card

5. Fill in all the details from your Company’s name and address to your salary details.                                                                                                                                                                                                      how to get loan on aadhar card

6. Give every single detail about your residence.                                                                                                                                                                                                                                                                              how to get loan on aadhar card

 7. Select the monthly EMI that you can pay.                                                                                                                                                                                                                                                                                    how to get loan on aadhar card

 8. You’ll be asked to submit the application. Click submit.                                                                                                                                                                                                                                                        

how to get loan on aadhar cardVerification process

Your application will be accepted once you submit all the relevant details, and Credmudra will analyze your needs. After verifying your eligibility, you’ll be connected with the lender and asked to submit your Aadhaar card and other income documents. After sanctioning the loan, you’ll receive the amount to spend according to your needs. 

Easily Tackle Your Financial Challenges With Credmudra

With so many lenders providing personal loans with an Aadhaar card, choosing a reliable lender is challenging. That’s why we’ve done the groundwork for you. Credmudra emerges as a clearer winner.  With Credmudra, we understand your needs to match you with a suitable lender with a 90%+ disbursal rate, maximizing your chances of getting approved.  A match made in heaven doesn’t apply only to relationships. It applies to your personal loan as well.  Manage all your financial needs with the best match (lender) that Credmudra finds for you.  Sign up on Credmudra to get your first reliable and fuss-free personal loan. 

FAQs

1. What is an Aadhaar card loan? 

An Aadhaar card loan is getting a personal loan by using your Aadhaar card as the primary document for your verification process.

2. Can I get a personal loan with just my Aadhaar card? 

Yes, you can get a personal loan just by using an Aadhaar card. In some cases, you may also require your PAN card. Apart from this, you need to submit income statements. 

3. How do you calculate the EMI for an Aadhaar Card loan? 

 Monthly EMI varies depending on the amount and tenure you choose. To get an overview, use Credmudra’s EMI calculator.

4. How long does it take to process my loan? 

Credmudra mostly offers ‘same day disbursal’ or disburses the loan within 48 hours of application. 

5. How do you apply for a personal loan using an Aadhar card? 

Use Credmudra’s website and submit all the relevant details related to your profession and PAN card details. Credmudra will match you with the right lender to get sanctioned.

Also, Read: Apply for a Rs. 50,000 loan on an Aadhaar Card